Thinking short-term instead of long-term
Needless to say, owning a home also has a lot of advantages, financial and otherwise. But if you’re only looking at the financial gains, don’t expect to recoup your investment the minute you’ve bought the house.
In general, the value of properties appreciates but this takes time, it doesn’t just happen in an instant. And the longer it takes, the longer you’ll have to pay for loan interest, taxes and other costs of homeownership. You need to be ready for that and understand that it might take years before you break even.
Check out these 10 Unexpected Things That Decrease Your Property Value.
