Couchside Conversations
Modern life for Gen Xers and Millennials is complicated. Some questions you might be asking yourself...
How do I take care of my aging parents and children at the same time? How do I change my career and make more money? Can I renovate my house? Should I buy an investment property?
Instead of consulting Google and hoping for the best, with Modearn® by Morton Wealth and our video series, Couchside Conversations, you'll always have someone in your corner—a financial advisor who has gone through the same experiences as you. We believe in more than just financial solutions—we focus on building a lasting relationship with you to ensure your success. We prioritize empathy, awareness, and personalized support to help you navigate every decision with confidence.
Couchside Conversations
Buying a Home vs. Investing in Property
Buying real estate feels more complex than ever in today’s market. However, investing in real estate or becoming a homebuyer is still top of mind for many people. With higher interest rates, an increasingly competitive housing market, and the rising popularity of investing in a secondary property, Modearn™ Advisors Jon Wingent and Kevin Rex are here to decode our complicated real estate landscape and answer tough questions.
*Here are some key takeaways from their conversation:*
• Current interest rates seem high due to a period of very low rates, but historically, they are not unprecedented.
• Kevin and Jon agree the affordability of a home is crucial, suggesting that only about 30% of monthly take-home pay should go towards mortgage payments. However, potential homeowners should remember they can refinance their mortgages if/when interest rates drop.
• When buying a home, focus on non-negotiable features like kitchens and bathrooms, as they are the most expensive to renovate.
• Renting may be necessary in competitive markets, but buying even a less-than-dream home can be beneficial for building equity.
• Jon and Kevin encourage listeners to focus on purchasing a primary home first before considering rental properties. While rental properties can generate income, they are active investments requiring responsibility and effort.
• Potential buyers should prepare financially, get pre-approved, and work with a trustworthy buying agent to increase their chances of a smooth transaction.
*Keep watching towards the end to catch our “This or That” segment where Kevin and Joe ask these rapid fire questions to each other:*
• Stay in the home you have or move to a new home?
• As a landlord, would you rather have a long-term tenant or rent your property out as an Airbnb?
• Build your dream home or buy a dream home?
• Earthquake or flood damage?