Forbes Asked Experts: Is Buying a Home Worth It?

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With the housing market remaining active despite the pandemic and interest rates at historic lows, Forbes asked experts if buying a home is worth the money.

The short version of the opinions from nearly two dozen experts, from the Forbes article: “The majority (57%) said that buying a house is a good investment, while 38% said it depends on certain factors and just 5% said that buying a home is not a good investment.”

Forbes also shares that the net worth of homeowners is 40 times that of renters, and that this homeowner advantage comes not just from owning a home but from the financial mindset that helps someone buy a home.

Other key points from the article include:

  • Work on your financial health before you buy a home
  • Remember to plan for closing costs in addition to your down payment
  • For spenders, buying a home can be a great way to force yourself to save by investing in your home
  • It’s probably a good idea to hold off if you’re going to stretch your budget too much by buying, or if you move frequently

See the article.

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