Investing is the sort of thing that most of us don’t think about until we’re well into our careers. After all, there’s a lot to juggle! What should you invest in? When is the best time? How liquid will your investment be — and how much are you willing to risk?

As a realtor here in the Louisville area, I tell my children to invest in a home for themselves as soon as possible. In the face of uncertainty, this is the best piece of motherly advice I can give.

Why, you ask? Well, for starters, home ownership is one of the top indicators of future wealth. Ninety percent of millionaires invest in real estate. That’s not luck — that’s wisdom.

Plus, home values have increased year-over-year for 43 of the last 50 years. That’s a pretty good indicator that real estate is a worthwhile long-term investment. And because of that, the longer you wait to buy, the harder it will be to get into the game. Hence, my motherly advice is to start early!

Building upon that, here’s a pro tip: Buy what you can afford now. Your first purchase is unlikely to be the dream home. But if you buy now and start gaining equity, you can work your way up to your ideal, whatever that may be.

Okay, you say, but where am I going to get the money for this investment?! Buying a house is expensive!

Are you aware that in many places, including here in Oldham County, you can buy a home without a down payment? Any home that qualifies for a USDA Rural Housing Loan does not require any money down. There will still be expenses associated with the purchase, of course, but they may be way less than you’re anticipating. The only way to know for sure is to start looking.

People are afraid to buy right now due to higher interest rates — I get it. But today’s rate will always be better than the 100% you’re paying in rent. Again, this is why I tell my children to buy as soon as possible.

And then, once you have a house, don’t sell it if you don’t have to.

As a realtor, I make my living by helping people buy and sell their properties, so this is an unpopular thing to say around the office, but… the point still stands. If you can afford to keep your home as a passive source of income and continue to increase your equity, it will always be a wise long-term decision.

If you’re still unsure about where to start investing in real estate, reach out. I’m more than happy to help.