My First House has to be My Dream Home?

In most instances people, especially couples, buy their first house when they’re in their twenties or early thirties. It used to be that families stayed in their homes, raised their families, and had the idea that they would die in their first home. Not so today.

The average time in the first house is five to seven years. Buy your first house as soon as you can afford one. It doesn’t have to be large or in a great location, but have a plan on moving as soon as some equity is built in.

You’ll probably get a better job as the years pass and your salary will increase. You will then have an opportunity to move up. If your salary takes a great leap, you may want to think about renting your first house out for increased income and purchase a second house. Within a relatively short time, you will have your dream home and investment properties.

Real estate investment will give you a better chance of having a good income and will give you security for your retirement. Build on your house purchases and be conservative. Do not leverage them to the maximum.

It might interest you to know that people like Bob Hope, made most of his wealth in real estate holdings, not as an actor or comedian. http://www.celebritynetworth.com/richest-celebrities/richest-comedians/bob-hope-net-worth/

In short, most can make money in real estate. Contact Rich and DelAnn Lozzi for great real estate advice. 949 525 3626/3766, mailto:[email protected], https://richanddelann.com/ (Ocean and Land Realty), BRE 01961327.