Hosting in Your Investment
When was the last time that you invited your friends over to hang out in your stock portfolio? Is your mom really impressed with how you've decorated your IRA? Of course not! That's because unlike real estate investments, more conventional assets don't allow for much utility or enjoyment. Real Estate has always shown to be a solid, long term investment and allows for many benefits during ownership. Tax incentives, depreciation, and other financial gains are discussed frequently, but we should not forget the ability to enjoy your investment. Owning your home allows for you to invite your friends and family into your investment and gives your direct emotional returns on any additional capital you put into your investment. Installing a new backsplash or fireplace not only allows for a return at sale, but also for years of enjoyment. Try that with a 401k.
Hard numbers also support making an investment in Real Estate. Median sales prices in Chelsea, for example, have risen 93% from 2009 to 2017- an amazing return for your money. Washington Heights sales prices have increased 61% over the same period, again showing the amazing results a well placed investment can yield. Think it's time for you to invest in New York City? Contact The Scholz Team today!