Home ownership

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money

M  Views of home ownership are changing.  Millennials generally don’t want large spaces and antiques.  More people are renting.  New tax implications may not favor home ownership as before.

V  Here are some things to consider.  What would that home investment earn if in another asset, not real estate?  Now add real estate taxes, upkeep inside and out, utilities, and property taxes.  Weigh that against homeowners’ association fees or rental costs. And it’s not just about money. More space means more time as well as money invested.  If that reflects your values and interests, and your budget allows for that, enjoy your home and practice hospitality.

M Your home is more than an investment, though that matters. It’s your shelter, place to share, and a gift to steward wisely.