Hey Bundy ,
One of the most important aspects that seems to be never mentioned is property's role when you are retired .
It's one thing to rent and use your money for other things , i.e. investments , during your working life . After all , part of the reason we work is to make sure that we retire comfortably .
So with that in mind , when you're retired , most people will have a limited income and therefore need to really control costs .
That's where home ownership comes in .
Sure , you might need to sacrifice in the early years and yes , dollar for dollar , there could have been better investments ( with the benefit of hindsight ) . But , at the end of the day , if you bought and paid off a house ( or two ) early on , then that's one crucial part of your retirement strategy that you've locked in early .
Regardless of how well ( or poorly ) your investments have gone , you still own a house . So , even on a pension , you will at least be reasonably comfortable in your later years because you sacrificed a bit early on .
Talk to any older person that is renting and on the pension . It ain't fun .
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