Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment.Even a small
Investing in a Home - One Major Benefit
Dated: February 27 2023
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One Major Benefit of Investing in a Home
One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:
“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’s a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional.
The Largest Part of Most Homeowners’ Net Worth Is Their Equity
You may be surprised to learn just how much of a homeowner’s net worth actually comes from owning their home. The National Association of Realtors (NAR) shares:
“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 does more to build the average household’s wealth than anything else. And according to data from First American, this holds true across different income levels (see graph below):
Bottom Line
One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect today so you can start investing in homeownership.
Kim Hanushek
(704)618-6081
(704)618-6081
#fortmillbuyer #fortmillsold #fortmillrealtor #fortmillseller
#expertanswers #purchasingpower #buyingpower #homepriceappreciation #affordability
#realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice
Kim Hanushek
I grew up in a small town in NY called Monticello, then earned my Accounting degree from SUNY Oswego in Upstate NY. I enjoyed beautiful sunsets on Lake Ontario but also endured extremely cold wi....
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