“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”
The Largest Part of Most Homeowners’ Net Worth Is Their Equity
“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.”