Millennial's are using there 401k to become homeowners
Why are Millennials scared to buy a home with there 401k?
There have been a lot of scary news stories out there lately suggesting that Millennials are making a big mistake by taking from or borrowing against their 401k to help buy their first home. But is it a mistake to invest in yourself to start building equity in a home. Most Millennials haven't even hit their peak earning years yet and have plenty of time to build that retirement portfolio. And besides, that isn't equity in a home an asset. Traditionally homes have been safe investments that are appreciated over time now before making any big decision.
It's always a good idea to talk to a trusted family members and some friends as well as a reputable real estate agent preferably a buyer specialist who can help lead you to that first home. One that won't make you house poor. Isn't it better at the end of the day to be paying your own mortgage rather than somebody else's? Which is exactly what you're doing when you're paying rent. I'm Cynthia Bowers a member of the Amy Kite team of Keller Williams Infinity.
Amy has been nationally recognized for her unique team approach to buying and selling real estate. Give us a call at 847 - 877 - 9881. And let us guide you to the American dream. Now is a great time to invest in yourself and your future.
The Kite Team