Housing-related decisions can be some of the most important financial decisions people have to make. For the majority of the middle class, homeownership represents their largest asset. Young people in the accumulation phase of their life need to plan their home purchase very carefully, as that home is likely to become a significant part of their overall worth. People planning for retirement have to decide whether they want to have their mortgage paid off before they retire or not. Retirees who have been in a home long-term may consider downsizing, taking some profit from their home and purchasing something less expensive.
No matter what your age is, decisions made regarding housing can have a huge impact on your finances. It’s worth your time to pay attention to the housing market and seek out expert advice when making these long term decisions.
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