overextending financially

Performance Property Real Estate Question

Bad Advice I Got From a Realtor

Q: My wife and I are buying our first home. Our realtor told us that since a home is your most important investment, we should stretch financially and buy as much hime as we can. What do you think? Jordan, Albany, NY A: Well Jordan, I unfortunately have heard that terrible financial advice from realtors before myself.  But, like a lot of quote, unquote “conventional wisdom,” it’s simply wrong.  Now, to play Devil’s Advocate, I suppose if you knew that you were going to make more money in the future it might make sense to pay a little bit more than you could afford to buy a home. But, how can you be sure that you’re going to make more money? And […]

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