property tax Should I Pay Off My Home Or Buy An Investment Property (Ep169)

Should you pay off your home and eliminate your mortgage or buy an investment property instead?

If you own your own home and you want to grow your wealth, you may be asking, "Should I pay off my home or buy an investment property?" It's a very worthy question to ask, and in today's episode I plan to help you answer that question for yourself.

When doing research for this article, I found a few web-sites and I found a few videos and basically the general consensus is something that truthfully I disagree with and they were saying that in all situations you should not spend money to buy an investment property but you should take extra money and try and pay off your home loan faster.

I am not a financial advisor, so I can't give you financial advice but what I can do is go through a series of questions that you can ask yourself so that you can make a better assessment for your situation and make this decision for yourself.

All right, I want you do an activity and I don't usually ask you to do an activity through video. Don't worry, I am not going to make you jump up and down or anything like that, but I want you to think about the future, I'm not talking one year or two years or five years, but so much further into the future.

Let's set a time of probably about twenty years, because that's probably how long it's going to take you to pay off your home loan. In 20 years time let's look at both scenarios, "What are the benefits of just paying off your home loan?", and then, "What are the benefits of buying an investment property?"

http://onproperty.com.au/169 - Visit the site for a full transcription and downloadable audio version of this video.

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DISCLAIMER No Legal, Financial & Taxation Advice
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property tax Should I Pay Off My Home Or Buy An Investment Property (Ep169)
51 Likes	51 Dislikes
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Education	Upload TimePublished on 22 May 2014

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