ted him $45,596 tax free for 6 years of home ownership. Do the math! He invested $6100 six years ago. His return on investment in six years was 747.5% tax free. Better than any RRSP. Many young men and women are taking advantage of the benefits of home ownership for obvious reasons.

Now to the next question. What do they know or understand that others do not? They know about and understand the power of leverage. Let’s go back to my example. My y

WHY MORE AND MORE SINGLE PEOPLE ARE BECOMING HOMEOWNERS? WHAT DO THEY KNOW THAT OTHERS DON’T?

We all know our society has changed and will continue to change in the years to come. So much information and so many choices we all struggle to keep up with it all.

A nine year old today knows more than I did when I was 20 and if he or she does not know something they just go on the computer and do the research. Old standards such as mum staying home and dad going to work are long gone and many women today focus first on a career, then on marriage and a family. In many cases the women of the household earns more money than the man. This has impacted greatly on family structure and lifestyles.

Today staying single longer and getting married later in life has become the norm. Today young adults are much more knowledgeable than in past generations. They realize the quickest road to financial independence, along with a good career, is to own your own home. Interest rates are low and home ownership is actually much more affordable, in many markets, than renting. They also realize that any gain realized from the sale of your principle residence is not taxable and that home ownership is one of the quickest ways to come ahead. Hence many young single people are investing in their own home as soon as they are financially able to.

I had one young customer who purchased a home from me for $92,000 six years ago. His mortgage payments with taxes were $560 per month. An equivalent home would rent for $650. He invested $6100 in his down payment and closing costs. I recently sold the home for him for $146,000. His cost to sell including real estate fees, HST and closing costs was $10,504 his mortgage payout was $90,000 for a total of $100,504. $146,000 minus $100504 netted him $45,596 tax free for 6 years of home ownership. Do the math! He invested $6100 six years ago. His return on investment in six years was 747.5% tax free. Better than any RRSP. Many young men and women are taking advantage of the benefits of home ownership for obvious reasons.

Now to the next question. What do they know or understand that others do not? They know about and understand the power of leverage. Let’s go back to my example. My y

as mum staying home and dad going to work are long gone and many women today focus first on a career, then on marriage and a family. In many cases the women of the household earns more money than the man. This has impacted greatly on family structure and lifestyles.

Today staying single longer and getting married later in life has become the norm. Today young adults are much more knowledgeable than in past generations. They realize the quickest road to financial independence, along with a good career, is to own your own home. Interest rates are low and home ownership is actually much more affordable, in many markets, than renting. They also realize that any gain realized from the sale of your principle residence is not taxable and that home ownership is one of the quickest ways to come ahead. Hence many young single people are investing in their own home as soon as they are financially able to.

I had one young customer who purchased a home from me for $92,000 six years ago. His mortgage payments with taxes were $560 per month. An equivalent home would rent for $650. He invested $6100 in his down payment and closing costs. I recently sold the home for him for $146,000. His cost to sell including real estate fees, HST and closing costs was $10,504 his mortgage payout was $90,000 for a total of $100,504. $146,000 minus $100504 netted him $45,596 tax free for 6 years of home ownership. Do the math! He invested $6100 six years ago. His return on investment in six years was 747.5% tax free. Better than any RRSP. Many young men and women are taking advantage of the benefits of home ownership for obvious reasons.

Now to the next question. What do they know or understand that others do not? They know about and understand the power of leverage. Let’s go back to my example. My y

road to financial independence, along with a good career, is to own your own home. Interest rates are low and home ownership is actually much more affordable, in many markets, than renting. They also realize that any gain realized from the sale of your principle residence is not taxable and that home ownership is one of the quickest ways to come ahead. Hence many young single people are investing in their own home as soon as they are financially able to.

I had one young customer who purchased a home from me for $92,000 six years ago. His mortgage payments with taxes were $560 per month. An equivalent home would rent for $650. He invested $6100 in his down payment and closing costs. I recently sold the home for him for $146,000. His cost to sell including real estate fees, HST and closing costs was $10,504 his mortgage payout was $90,000 for a total of $100,504. $146,000 minus $100504 netted him $45,596 tax free for 6 years of home ownership. Do the math! He invested $6100 six years ago. His return on investment in six years was 747.5% tax free. Better than any RRSP. Many young men and women are taking advantage of the benefits of home ownership for obvious reasons.

Now to the next question. What do they know or understand that others do not? They know about and understand the power of leverage. Let’s go back to my example. My y

to.

I had one young customer who purchased a home from me for $92,000 six years ago. His mortgage payments with taxes were $560 per month. An equivalent home would rent for $650. He invested $6100 in his down payment and closing costs. I recently sold the home for him for $146,000. His cost to sell including real estate fees, HST and closing costs was $10,504 his mortgage payout was $90,000 for a total of $100,504. $146,000 minus $100504 netted him $45,596 tax free for 6 years of home ownership. Do the math! He invested $6100 six years ago. His return on investment in six years was 747.5% tax free. Better than any RRSP. Many young men and women are taking advantage of the benefits of home ownership for obvious reasons.

Now to the next question. What do they know or understand that others do not? They know about and understand the power of leverage. Let’s go back to my example. My y

ted him $45,596 tax free for 6 years of home ownership. Do the math! He invested $6100 six years ago. His return on investment in six years was 747.5% tax free. Better than any RRSP. Many young men and women are taking advantage of the benefits of home ownership for obvious reasons.

Now to the next question. What do they know or understand that others do not? They know about and understand the power of leverage. Let’s go back to my example. My young friend is 28 Years old and has $45,596 in his bank account. What do you think he did next? Put the $45,596 into another home? No way. He purchased another home at a good price $125,000. He invested $9250 Including his down payment and closing costs. His payments are $725 per month which is fine as he is making more money at work and to rent the same house would be $900 per month. The balance he has left in the bank is $36,346. He spent the $6346 on bills and paying off his credit cards. That left him $30,000. This money he invested in Royal Bank shares in a self directed RRSP.

Now think about this! He is 28 years old. 37 years away from retirement at 65. If the value of those shares at minimum doubled every 7 years he will have in excess of $1,000,000 in his RRSP. By the time he is 65. Fantasy ??? NO WAY. If this young man never invests another penny in the next 37 years he will still retire a millionaire and he did not have to win the lottery to do it.

I have customers who have bought as many as 10 homes from me over the past 30 years. I have watched them put their kids through collage, buy their summer cottage, take ocean cruises, buy expensive cars and recreational vehicles all with cash made by applying these same principles. Many have retired before 50 because they could. Many spend their winters in Florida because they can. All accomplished by the power of leverage and the tax free benefits of home ownership. I know you maybe in no hurry to own your own home and that is your decision but now at least you know what your missing out on.

I hope you have found this article informative and you can use this knowledge to help you on the way to financial freedom. These principles have helped so many of my customers and myself over the past 30 years. Please feel free to