Attention renters, how owning a home can improve your net worth today more than ever?
Owning a home is not only a big achievement but also a major financial milestone to your net worth. This is because as a homeowner, you are able to build equity in your home which in turn gives your net worth a boost.
Hi, I'm Stephanie Martenzi, Super Mom Super Agent with Southland Properties here to tell you if you want to increase your financial security, now might be a good time to invest in real estate homeownership.
A recent report from the National Association of Realtors talks about the net worth of a homeowner compared to that of a renter, and finds that the average homeowner's net worth is roughly 40 times that of a renter. This is because as a homeowner, your equity grows as your home appreciates in value and as you continue to make monthly mortgage payments. If you're a renter, you do not have this opportunity.
In a recent article from CNET, it was noted that, "Homeownership is still considered one of the most reliable ways to build wealth. When you rent, you are not investing in your financial future the same way that you are when you're paying off a mortgage." In most markets, home equity will continue to build wealth over time, and your home will become an asset as the potential to appreciate in value as you continue to pay down the balance of your mortgage.
So if you're looking to finally stop renting and want to purchase, please reach out to me so I can help you strategize the best way possible to achieve your dream and help you build your financial net worth along with it.
This is Stephanie Martenzi, Super Mom Super Agent with Southland Properties here to help you have a super fun, empowered, and informed real estate experience by guiding you every step of the way. If you see me out in the community, make sure to say hi.
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