By Ka Lee Angel Lee Our homes are one of our largest fortunes, therefore it is essential to know the real value of them in order to make the best benefit from the asset.
First you will need to access the value of your home to you. This means whether you are satisfied with your present home right now or are you planning to get a new one? If you plan to do the later, you will need to find out what you are looking for and then compare cost and benefit of moving. There is a strategy for young movers. That is to go downsizing right now. Moving to cheaper place can pay off especially when you own a house that is worth a fortune now. By selling or leasing your more expensive house, the proceeds can provide money to live on early in retirement. Also, experts advise that when you invest in real estate, limit the amount to less than one-third of your retirement assets in it and try to select more flexible real estate investments to deal with because real estate is not very promising for long term investments.
Sources:
http://www.businessweek.com/investor/content/nov2007/pi2007112_531703.htm
Everyone value of their home is different. It is unfortunate to see how so many people are downsizing due to the poor economy.
ReplyDelete-Scarlett Lu