Enjoy where you live while you make long term money work for you
The “Stock Market Casino” days are over. Yes there is still money to be made in the Stock Market but it takes a savvy smart investor like Kevin O’Leary who works full time at it to make money. Look at your own investments or Mutual Funds to see what I am talking about.
There is a much easier and more secure way to ensure you have a nest-egg for your retirement. It’s in your home. Everyone has to live somewhere so your investment journey should start with your own home. Investing in your home will increase the value of your investment over time, with the added benefit being that you control your investment dollars and you can look after and touch it every day. While your investment is growing you also get to enjoy living in a nice space. Much more appealing than holding a Stock Market certificate that is controlled by a total stranger and locked in a safety deposit box at your bank.
Now, is owning your home a guarantee to a price increase in the future? No. But statistically properties have always increased over time in Canada. Everyone has heard the stories of their parents buying their first home for $24K and the average price for a new home is now $346K. To be sure home prices will go up and down as they have always done. Living in Ottawa is a very secure long term home for your investment dollars. Canadian Real Estate Association facts.
What I am suggesting is if you had invested $200K in your home 5 years ago you would be realizing a substantial profit now. As well, you would have enjoyed living in a beautiful space and watching your investment grow. Compare that to your Mutual Funds.