Major Benefit of Investing in a Home
Monday Feb 27th, 2023
One Major Benefit of Investing in a Home
One of the numerous reasons to own a home is that it is a significant means of building wealth and achieving financial stability. Freddie Mac states:
“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”
With spring approaching, now is an excellent time to examine whether purchasing a home makes sense. The easiest method to determine this is to consult a local and trusted real estate professional.
Equity constitutes the largest portion of most homeowners' net worth.
You might be shocked to learn how much of a homeowner's net worth is derived from property ownership. The National Association of Realtors (NAR) shares the following:
“Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families. Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”
In other words, home equity contributes the most to the wealth of the average household. And according to data from First American (see graph below), this is true regardless of economic level.
Regardless of income level, one of the greatest advantages of home ownership is that it provides financial security and a means to accumulate wealth. Let's connect now so you can begin investing in real estate.
Thanks for reading,
~ Steven M Vertz
Wizards of Real Estate LLC
Call or Text (920) 209-1079 anytime!
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Wizards of Real Estate, LLC does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Wizards of Real Estate, LLC will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.