A Homeowner's Net Worth Is 40x Greater Than a Renter's

One of the best ways to build your family's financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it's time to consider buying a home, especially with today's market! 

Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to have fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more memorable for those who are ready.A
Homeowner's Net Worth Is 40x Greater Than a Renter's | MyKCM

Owning a home is a great way to build family wealth.

For families, homeownership serves as ‘forced savings.' Every time you pay your mortgage, you're adding to your net worth by increasing the equity you have in your home (See chart below):A
Homeowner's Net Worth Is 40x Greater Than a Renter's | MyKCM

Today, there are great opportunities available for those planning to buy a home. The market has made a full recovery, and all-time low interest rates are giving homebuyers a big boost in purchasing. If you're ready, buying a home this fall can set you up to increase your net worth and create a safety net for your family's future.Give me a call today if you are ready to find the one!

 

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