On his personal website, self-made millionaire David Bach makes a striking statement: “Not prioritizing homeownership is the single biggest mistake millennials are making.” He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances of…
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Credit scores surprise many people who assume that if they never miss a payment, their FICO must be good. But your credit score is more than just your payment history. It takes 5 factors to create a credit score: Payment history Credit utilization (amounts owed and number of accounts) Credit mix New credit Length of…
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“Measure twice, cut once,” so the old age goes. Buying a home is an expensive proposition, no matter how you slice it. It entails many significant costs, and for many, this is the single largest purchase they’ve made in their entire lives. No matter whether they are spending $200,000 or $2 million on a home,…
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