New Years Resolution: Buy Real Estate in 2010

Tonight signifies the end 2009. A year many would like to forget. It also signifies the beginning of a new year and a new start. A chance to change.

For those that don’t own real estate yet, for the perennial renter, perhaps this is the year to change. This is the year to actually do something an purchase yourself a home.

According to David Bach, the Author of The Automatic Millionaire, the average homeowner has more than six times more net worth than the average renter.

Owning real estate, with a long term plan, provides an automatic savings plan, one of his keys to building wealth. What some people fail to realize is that when buying a home you are actually working to pay it off.

The sooner you buy, the sooner you’ll be able to start paying your home off. With mortgage rates as low as they are right now the affordability of buying using mortgage financing is likely the least expensive it will be for a very long time.

So if you are a perennial renter, as you set your new years resolutions, make one of them the goal to purchase yourself a home or condo in 2010.

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