Common Cents Finance

Everyone dreams of the day they buy their first home, and they definitely should. It’s a great milestone to achieve in everyone’s life. However, don’t fall into the trap of thinking a primary residence is a worthwhile investment, because it isn’t.

Unless you rent parts of your home, a primary residence does not generate cash flow. Not only that, it comes with numerous expenses, like property taxes, utilities, and a mortgage.

It is probably best to avoid putting all your savings into a home. Instead, it’s a good practice to ensure that your retirement planning and other finances are in order before making such a purchase.

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