Welcome to another eye-opening episode of the Building Your Money Machine Show. Today, I’m pulling back the curtain on a financial “truth” we’ve all been sold: that buying a home is the ultimate American Dream. If you’ve ever felt pressure to own a house—or worried that renting means you’re “throwing money away”—this episode is for you.

Let’s get real. For decades, we’ve been told that a mortgage is a rite of passage and a path to prosperity. But when you dig deeper (and I do that with real numbers from both high-cost and more affordable cities), home ownership can end up being the fastest way to lock yourself into years—sometimes decades—of financial stress. It’s not just about the monthly payment. There are surprise roof leaks, HOA letters about your mailbox color, skyrocketing insurance costs, and a host of phantom costs nobody ever posts about on Instagram.

Whether you’re contemplating your first purchase or just questioning the hype, I walk you through my free Rent vs. Buy calculator, so you can see for yourself whether buying a home stacks up for your unique situation.

IN TODAY’S EPISODE, I DISCUSS:

• The origins of the “American Dream” of homeownership
• Why just focusing on your mortgage payment is a costly mistake
• The REAL costs of owning a home
• What most people get wrong about the rent vs. buy debate
• Step-by-step walkthrough of actual numbers in LA and Minneapolis
• Why renting isn’t “throwing money away”—unless you spend the savings
• The 6 essential questions to ask yourself before you ever buy a home
• How to use my free Rent vs. Buy calculator to make your own decision

RECOMMENDED EPISODES FOR YOU

If you liked this episode, click here to enjoy these and more:
https://melabraham.com/show/

• Why Most Americans Never Escape the Middle Class Trap
• What Everyone Gets Wrong About FIRE
• If You Don't Understand Bonds, You Don't Understand Money
• 7 Things I Wish I Knew Before I Retired
• 8 Signs You're NOT Ready For The Upcoming Recession

RECOMMENDED VIDEOS FOR YOU
 
If you liked this video, you'll love these ones:

• Why Most Americans Never Escape the Middle Class Trap: https://youtu.be/VBMqrkvvHrY
• What Everyone Gets Wrong About FIRE: https://youtu.be/OyvPksxNMqo
• If You Don't Understand Bonds, You Don't Understand Money: https://youtu.be/7d9Lz0D0uzA
• 7 Things I Wish I Knew Before I Retired: https://youtu.be/t5DL9bZYRiw

ORDER MY NEW USA TODAY BESTSELLING BOOK:

Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!

The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.

Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.

When you do you’ll also get over $1100 in wealth resources & bonuses for FREE! 

TAKE THE FINANCIAL FREEDOM QUIZ:

Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com