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A Home – Still the American Dream

Buying a home is still the American Dream - and more than that it may a great tool for retirement planning - given the state of many "personal economies".

It's almost a given that Social Security will not exist in the future. How do you know if you are saving enough? How much will you need?

Low mortgage rates and low home prices combine to make "now" the most affordable time to buy a home since the 1970's. Jim Woods wrote an article earlier this year for Market Watch, part of the Wall Street Journal’s digital network. Its title: Why your best investment is a house. Mr. Woods compared the investment potential of real estate against other asset classes such as stocks and precious metals. Here was his conclusion. "One reason your best investment right now could be a home has to do with the relative upside of getting in on an asset class while it’s at the bottom versus buying into other asset classes that could be near a top. Consider for a moment the tremendous upside we’ve seen in stocks, precious metals and agricultural commodities over the past 12 months."

Many homebuyers are able to pay the same or less in a monthly mortgage payment than rent! How does all of this translate to retirement planning? Consider this, if your monthly rent were being deposited into a savings account for you - earning an average of 3% compound interest - you would have accumulated over $2,300,000 over the next 40 years! Wouldn't you rather put your hard earned dollars to work for you in your home vs. paying your landlord's mortgage? What's your plan?

In the world of real estate financing, where the rules are ever changing, Gayle has 2 decades of experience, along with the knowledge and patience to close your loan. Opes Advisors, a mortgage bank, offers direct lending programs, including FHA, rehab, and conventional programs for purchasing or refinancing.
Contact Gayle directly: garrowood@opesadvisors.com 707-529-4321