“Ninety percent of all millionaires become so through owning real estate.” ―Andrew Carnegie “Buy land; they’re not making it anymore.” ―Mark Twain
There are three basic necessities in life: food, clothing, and shelter. This chapter is going to stress the need to avoid group-thinking when it comes to buying your first house and the advantage of being a house owner.
Most immigrants start life by renting an apartment or a house before buying their first house. Some start by living with friends, relatives, or some good Samaritans. No matter where you start, sooner or later, you will be faced with the possibility of buying your first house, and this should not be taken lightly.
When you are ready to buy a house, do not allow group-thinking to influence where you buy the house. Most immigrants ask other immigrants from their country of birth where to buy their first house.
This is a tactical mistake, and it will cost you in the long run.
You must think about the future of your neighborhood and the money you are investing in your house.