Buying a House | Future Money Trends Financial Investment & Personal PortfolioOne of the biggest dreams for many people is owning a home. However, future money trends suggest that the ownership rate for homes is low compared to historical averages. There are a lot of reasons for this. Over the long term, saving up money to buy a home can be difficult. There are a lot of people who are looking to purchase, but the cost of homes has gone up dramatically in recent years. Combined with the student loan crisis, it is easy to see why so many people are staying away from buying a home. If you want to buy a house, you need to make sure you are looking at the long-term picture.


Without a doubt, the biggest expense for most people is their home. Few people have the cash to put down a large payment when buying, and this means that they end up paying private mortgage insurance. This is an extra fee that is put on borrowers who put the bank at a higher risk of defaulting on the loan. If a buyer can put down twenty percent or more on the loan, the private mortgage insurance fee goes away. Over the course of time, this can end up saving people tens of thousands of dollars.


Another major expense for a lot of people is their home insurance. Although there are a lot of home insurance plans to choose from, at the end of the day it is just expensive. Although you can technically go without insurance, it is not a good idea. Just one issue can wipe you out financial. Even if you have a strong investment portfolio, you should always have home insurance. With the internet today, there are more options than ever before in this area.


Buying a home is a great accomplishment for a lot of people. If you want to buy a home, having the money to put down a large down payment is key. Without that down payment, you are going to end up paying hundreds of dollars more per month. This is something that a lot of people have struggled with in recent years. With the rate of home ownership so low, there is a lot of competition for new homes in the market today. This has further compounded the issue for new buyers.