The First Step to a Better Financial Future : Homeownership
Owning a home has many financial benefits, including boosting your net worth.
Given the current rate of inflation, the link between owning your home and building wealth is exceptionally important.
Now could be the perfect time to start your journey toward homeownership.
Owning a home is one of the most important steps you can take toward achieving financial success.
According to a recent report from the National Association of Realtors (NAR), the net worth of homeowners is more than 40 times that of renters.
That's a huge gap!
Equity gains can substantially boost a homeowner’s net worth
The difference in net worth between owners and renters is due in large part to equity gains. When you make monthly mortgage payments, you're building equity in your home.
“Homeownership is still considered one of the most reliable ways to build wealth. When you make monthly mortgage payments, you’re building equity in your home . . . When you rent, you aren’t investing in your financial future the same way you are when you’re paying off a mortgage.” ~ Bankrate
As a renter, you’ll never see a return on the money you pay out in rent every month. So while rent may seem cheaper right now, it doesn’t always pay off in the long run.
We know that buying a home can be overwhelming, but we’re here to help. We have the tools and resources you need to get started—and stay on track with every step of your purchase.
If you’re ready to start on your journey to homeownership, contact us at 573-471-2020.
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