forest lake home vales

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Millennials: Stop Renting, Start Owning Today!


millennial buy

In a CNBC article, self-made millionaire David Bach explained that: The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.

Bach went on to explain:

“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.” 

Then he explains the secret in order to buy that home!

Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a 15-year mortgage? Well, one, you pay the mortgage off 15-years sooner, that means you’ll be able to retire in your fifties. Number two, you’ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).”

What will it cost to pay your mortgage in fifteen years? He explains further:

“For fifteen years, you got to brownbag your lunch. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You’ll have real wealth, because you bought a home – you’re not a renter. And you’ll be financially secure for life.”

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, Washington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.


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Forest Lake Home Values

Homes sold in Forest Lake

Forest Lake Home Values
Over 30 homes sold in Forest Lake in the month of July. The highest was $635,000. Your home value has changed. I know you’re curious now…

Everyone wants to know what their home is worth. Homeowners receive the “estimated market values” from the county with our tax estimates, however, that isn’t the only measuring stick. Rather it tends to lag behind the market by one to two years minimum.

And then there is the “Zestimate” from an unnamed, popular real estate website. A “Zestimate” isn’t always the most accurate as not all of the information is up-to-date. The best way to know is to look and see what is going on around you.

Looking at the properties that have sold near you in Forest Lake is quick and easy, and, will give you the best idea of what your property may be worth right now.

Your Free Valuation
Check out my free, automated home valuation website for Forest Lake below to see what your home value estimate is…all in under 30 seconds!

The Bottom Line
Knowing what your home is worth is important, however, knowing what is going on around you in the market is even more so.