Buy rather than Rent in Dupont Circle!
Today’s topic is tips for creating long-term wealth with real estate. Real estate values should always increase, whereas car values decrease over time!
Several years ago, when my grandfather passed away, I saw the statement from the probate of his estate. By the end of his life at the ripe old age of nearly 90, most of his retirement savings had been spent. Where was his wealth when he died? In his Washington, DC condo, which he and my grandmother owned for more than 20 years. During his working life as a chemical engineer and later after he retired, his house was quietly working away too--chugging along and generating considerable equity over time. You should also consider a Dupont Circle Condo.
The lesson to take away from this little story is simple and really important: Over time, real estate goes up in value and, over the long term, it can go up a lot! Although appreciation has slowed recently in the US, owning real estate for the long term can be a powerful wealth building strategy. As the old saying goes, “Don’t wait to buy real estate; buy real estate and wait.”
On average, homeowners have higher net worth than renters. According to the study done, the average net worth of renters is $54,000, but the average net worth of homeowners is $625,000! More than 11 times more. Please make sure you have a look at the Condos in Dupont Circle.
If you don’t already own your own home, consider making it a goal to buy one. It’s easier than you might think. There are many loan programs available that allow for low down payment for home buyers. Always keep in mind the real estate in Dupont Circle.
Several years ago, when my grandfather passed away, I saw the statement from the probate of his estate. By the end of his life at the ripe old age of nearly 90, most of his retirement savings had been spent. Where was his wealth when he died? In his Washington, DC condo, which he and my grandmother owned for more than 20 years. During his working life as a chemical engineer and later after he retired, his house was quietly working away too--chugging along and generating considerable equity over time. You should also consider a Dupont Circle Condo.
The lesson to take away from this little story is simple and really important: Over time, real estate goes up in value and, over the long term, it can go up a lot! Although appreciation has slowed recently in the US, owning real estate for the long term can be a powerful wealth building strategy. As the old saying goes, “Don’t wait to buy real estate; buy real estate and wait.”
On average, homeowners have higher net worth than renters. According to the study done, the average net worth of renters is $54,000, but the average net worth of homeowners is $625,000! More than 11 times more. Please make sure you have a look at the Condos in Dupont Circle.
If you don’t already own your own home, consider making it a goal to buy one. It’s easier than you might think. There are many loan programs available that allow for low down payment for home buyers. Always keep in mind the real estate in Dupont Circle.
Labels: DC Waterfront Condos, Homes for sale in Washington DC, Metro DC Homes, Real Estate Washington DC
posted by Denny Horner at
11:07 PM
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