Tuesday, July 23, 2019

Is it for Everyone?

Recently, we were on a small weekend getaway at a great bed and breakfast in Southport, NC called the Robert Ruark Inn.  It is a fantastic place to stay and with the booking comes a wonderful breakfast.

While at breakfast, we met two other couples.  Both were from NC and were very neat people.  Throughout breakfast and small talk, one couple asked about the professions of others at the table.  A few minutes later, it was time for one of the three couples to leave so we were sitting at the breakfast table with a nice young couple from Raleigh, NC.   He was a native of Paris, France and had moved to NC to marry his wife, a neat lady who works in the pharmaceutical industry.

We could tell she wanted to ask a question.  She said, "May I ask you a real estate question?"  Of course!  She said, "we rent a home and we do not know if we want to buy or not...what do you think?"

It is a great question, isn't it?  We're sure the same thought has crossed many people's mind.  So we turned the question back to her and said, "That's up to you...do you want to use this investment to build wealth? Or do you want to give your hard-earned money to someone else so they can build their wealth? According to Lawrence Yun, the Chief Economist for the National Association of Realtors, this question is a no-brainer!  Between 2000-2018, those who became homeowners saw their net worth grow tremendously verse those who rented.

At the end of this short conversation, she said that several points were brought up that she had not thought of before.  We know and love real estate and believe it is a great tool to build wealth.  We think that she may be in the market to purchase real estate now.

**Disclaimer - some may not be able to purchase real estate at this point in their lives.  That's ok too. But it is important know that ownership is a wealth builder and a great step forward in the American Dream**



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