Why Buying a House is a BAD IDEA! Don't buy a house to live in. Lifestyle Inflation.
- Published on: 10/16/2017
- Is Buying a House a Good Idea or Bad Idea? What impacts whether buying your own home is a good investment or bad? Is it a good idea to buy a house?
You've likely came across the debate over buy vs rent:
There are a ton of Buy or Rent Calculators Online - but does that take into consideration all facts?
Frequent Arguments for Why You Should Buy a House:
-Best Investment Your Parents/Grand Parents ever made
-Forced Savings Plan
-Quality of Life
Arguments for Why You Should Rent Your House:
-Flexibility, and Ability to Pivot are much higher
-Low overhead, Simpler
-Most People don't review all the facts/costs
Honestly though - the number one decider is this: Are you conscious of your consumption? Will buying a home result in further lifestyle inflation?
Bigger Pockets: https://www.biggerpockets.com/users/MattMcK
Matt McKeever is a CPA, CA and Real Estate Entrepreneur in London, Ontario. On this YouTube Channel Matt will walk the viewer through how to invest in real estate using such strategies as the BRRRR method while also documenting his personal experience as a real estate investor. Matt began investing in real estate at age 25 by purchasing a student rental near Fanshawe College. In 2016 he's acquired over 25 units.
As well on this channel Matt will share his personal monthly spending and discuss the strategies and tactics needed to reach financial independence (retire early) at a young age. We’ll discuss such topics as safe withdrawal rates, how to build passive income streams and how to reduce your personal consumption