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For many people, a house seems like a miraculous investment: Owning a home solves most financial problems and is the ultimate pension plan.
It’s an undeniable fact that a house is a long-term and effective investment. Most property owners and experts agree on this. But placing all your bets on a house is a huge risk.
Patrick Charlebois, investment advisor and manager at Bank National Financial in Trois-Rivières, cautions his clients. He definitely recommends purchasing a home and lists the advantages: good financial investment, better quality of life and a valuable asset for retirement.
Becoming an owner helps you to obtain a good credit file, to develop discipline for the family budget and to acquire the habit of saving money. But property owners may commit an error by placing all their hopes on their property.[……]