One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates that a homeowner’s net worth is actually over 40 times greater than that of a renter.
For many families, homeownership serves as a form of ‘savings.’ Every time you pay your mortgage, you’re contributing to your net worth by increasing the equity you have in your home (See chart above). The impact of home equity is part of why Gallup reports that Americans picked real estate as the best long-term investment for the seventh year in a row. According to this year’s survey, 35% of Americans chose real estate over stocks, savings accounts, gold, and bonds!
Maybe it’s time to start thinking about buying a home…let’s connect if you’re ready to purchase a home; this is the perfect time to talk about how you can benefit from our local area’s market trends.