Home Buying Advice - Forced Savings
Why buying a home may help you put away savings.
If you are not good at putting money away for savings then buying a home may help. When you make a mortgage payment part of the payment goes towards paying the interest and part goes towards paying the loan (assuming you do not have an interest only loan).
In addition to this your home should appreciate in value. Therefore you are putting away savings in 2 ways through loan payment and home price appreciation.Return to Home Buying Advice