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Owning a Home: A Good or Bad Thing?

We love to hear from our readers. Last week, we received this email from Neal Paskvan who is an agent at Baird & Warner, a real estate firm in the Chicago area.

“I was at my mother-in-law’s home yesterday and some of her neighbors (a few older couples) started showing me their Chicago tax bills and the average and median “Market Value” on the bill. They explained how they were upset because prices have fallen over the last few years.

I reminded them that they enjoyed raising a family in a home of their own; that several had borrowed against their house to put their children through college without student loans; that they all still have equity in the home which is like a savings account going into their retirement years.

Then I asked the big question. “Owning your home: was it actually a good thing or a bad thing?” Big perception/paradigm shift on their part.


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1 reply
  1. Justin Capps
    Justin Capps says:

    I always tell my clients that purchasing any property is an investment. Just like Stocks, its a little more risky when you buy and sell quick. History will tell you that owning real estate over a long period of time is typically better than selling in 4-5 years.

    Reply

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