My wife, Rachel and I are technically “millennials” so after reading a *US News article written by Amanda Falcone regarding home ownership as an investment for the millennial generation, I decided to share our experience.
I was fortunate enough to work with my father in his construction business for many years before my wife and I purchased the business and rebranded it as S. Gentry Custom Homes. We have certainly learned the wisdom of purchasing a home and letting it serve as a healthy investment for our future.
In the aforementioned article, the author laid out several reasons why “buying a home is one of the smartest financial decisions you can make. It is inflation protected and a physical asset that doesn’t disappear like other investments”.
The reasons are:
- Spend Smarter – rent payments only benefit the landlord. Mortgage payments are an investment of the future.
- Consider the Resale Value – the Houston area has been especially strong for resale value. Even with our recent oil and gas market decline, the market indications we re following are leading us to believe that home ownership is still a wise investment.
- Enjoy the Tax Breaks – writing off interest and getting credit for low energy, high efficiency appliances and AC/HVAC systems are high incentives of home ownership/
- Home Ownership has an Emotional Benefit – people tend to become involved in their community when they own a home and rewards come back “ten fold” when time, talent and treasure are invested to those in our community who are in most need.
- Low Interest Rates – the latest rates are still low and following the market, we believe they may stay low for another year so now is the time to build a home.
- Supplement your Retirement Income – when millennials purchase or build a home early in their careers, by the time they are retired, their home may be mostly paid off and they can start to redirect funds toward more aggressive retirement instruments and they have gained huge equity to utilize as leverage.
Building or buying a home and renovating it may pay big dividends for millennials and other generations. We think it’s been a great investment and we are glad to share our experience.
About Scott Gentry:
Take the son of a builder, an IRONMAN and a guitar player/singer and you get a man dedicated to family, home, community and friends. Scott Gentry is passionate about the community where he lives. He was born and raised in Conroe, Texas, is active in area non-profit organizations like Montgomery County Youth Services, plays in the band Stillhouse, and is a group leader for veterans at Refuge Trauma Center.
Scott has been building homes since 1997. With the commitment he showed to his father’s business, with the grit it took to train as an athlete and with the creativity he harnesses as a musician, S. GENTRY Custom Homes are built with detailed design, strength and inspiration. For more info, visit http://www.SGentryCustomHomes.com or call 936.890.1313