Mark Schulenburg

Branch Manager • Guild Mortgage

  • Home
  • About
    • About Mark
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Calculator
    • Mortgage FAQ
    • Mortgage Glossary
  • Testimonials
  • Apply Now
  • Contact

Owning A Home Can Contribute To A Retirement Portfolio

March 16, 2022 by Mark Schulenburg

Owning A Home Can Contribute To A Retirement PortfolioMany people dream of retiring one day, and there are numerous assets that contribute to that retirement goal. Social security, pension plans, and savings accounts have traditionally provided assets people use to enjoy their retirement; however, this traditional plan ignores one of the most valuable assets. Owning a home can contribute significantly to someone’s retirement goals; however, it is important to have a firm plan in place to make those retirement dreams come true. There are several ways a home can play an important role in that plan. 

The Value Of A House Traditionally Increases Over Time

Many people who purchase a home take out a fixed-rate, 30-year mortgage. Then, if they stay in their house long enough, they might have it completely paid off by the time they retire. When someone owns a house outright, they can sell it and use the value of that home to fund their retirement or purchase another house. If they don’t feel like moving, they might take out a home equity line of credit to generate more income and fund their retirement. 

Too Many People Overlook The Value Of A Home

Even though owning a home is a great way to build wealth, a lot of people overlook the value of a home with respect to retirement. Many people are taking on much more debt than they did in the past. This is making it more difficult for people to purchase a home. As a result, it might take longer for someone to pay off their home, making it harder to retire one day. That is why it is critical for people to think about purchasing a house as early as possible. That way, they have more time to build their assets, compound their wealth, and pay off the home. 

Retirement Dreams Require Diversification

Ultimately, those who dream of retiring one day need to focus on diversifying their assets. Even though traditional retirement plans are helpful, it is also critical to think about the value of real estate. It can make a significant difference to the totality of a retirement plan.

 

Filed Under: Mortagage Tips Tagged With: Equity, Owning A Home, Retirement

Mark Schulenburg

Contact Mark


Branch Manager
Call (630) 417-7174
markschulenburg@guildmortgage.net
NMLS # 559943 Guild Mortgage
NMLS #3274

Browse Articles by Category

Get A Free Rate Quote!

Recent Articles

  • 3 Tips To Consider When Buying A Home With An FHA Mortgage
  • S&P Case-Shiller Home Price Indices: Home Prices Fall In November
  • Is It Worth It to Put More Than 20 Percent Down?
  • What You Need To Know About A Closed-End Second Mortgage
Guild Mortgage NMLS #3274
Equal Housing Lender

Our Location


1815 Meyers Road Suite 120
Oakbrook Terrace, IL 60181

Copyright © 2023 · Powered by MySMARTblog