One Major Benefit of Investing in A Home

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.
 
Have questions? Reach out to us at (434) 812-2388, [email protected] or visit the Denise Ramey Team serving the real estate needs of the greater Charlottesville area.

Work With Us

The team at Denise Ramey Real Estate has extensive experience in the local market in Central Virginia and the Charlottesville area, allowing you to enjoy a more simplified process. We handle everything in-house, from the first steps of your search through to the final details of the transaction. We leverage our extensive network to benefit buyers and sellers alike, ensuring that your transaction is as simple as possible.

Follow Us on Instagram

*Select images on this website are the property of their respective copyright owner J. Beeler. These images are used for educational, informational, and/or illustrative purposes only.