Homeownership Is An Investment
Wealth Building in Homeownership
The desire for homeownership is still strong. Many people are still thinking of buying a home, but with the shifting market, they are questioning if whether it is still a smart move to buy now or if waiting is a better choice. If you are in that position, it is also important to consider the long-term benefits not just what is happening in the housing market today.
Homeownership has proven to build homeowner's net worth over time. But up to this day, many are still focusing only on 401(k)s as a wealth-building tool and forget to consider owning a home as an investment. If you are a young potential homebuyer, it is important to understand how homeownership is another way to invest for your future.
To understand how much owning a home impacts one's life over the years, data shows the gap in wealth between renters and homeowners who are 65 years and older. It clearly shows that there is a huge difference in wealth despite having similar incomes.
Whether if you decide to rent or buy a home, you still have a monthly housing expenses. But are you really planning to build your landlord's wealth? Set you up for success in the future, it is time to build your own wealth and prioritize homeownership. Stop putting your homeownership on hold. Call us and you'll have an expert advice on how to make the right decision and the best in investment in your future.