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Homeownership Offers Stability & Wealth Creation

2/7/2017

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Picture
The most recent Housing Pulse Survey released by the National Association of Realtorsrevealed that the two major reasons Americans prefer owning their own home instead of renting are:
  1. They want the opportunity to build equity.
  2. They want a stable and safe environment.

Building Equity
In a recent article by The Mortgage Reports, they report that “buying and owning a home is the essence of ‘The American Dream.’ Each month, your housing payments go toward owning your home instead of renting it; building your personal wealth and assets instead of someone else’s.

History has shown that homeownership is a clear path to wealth-building, with homeowners boasting a net worth [that is] multiples higher than the net worth of renters.” 
 
Family Stability 
Does owning your home really create a more stable environment for your family?

A survey of property managers conducted by rent.com disclosed two reasons tenants should feel less stable with their housing situation:
  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than to negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future.

Bottom Line
Homeowners enjoy a more stable environment, and at the same time are given the opportunity to build their family’s net worth.

SOURCE KCM
​#ForBuyers #HomeOwnership #SimardRealtyGroup #JoinExpRealty
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  • Home
  • About
    • Contact
    • Testimonials
    • Promo Videos
  • Home Search
    • Financing >
      • Free Home Inspection
    • Mortgage Calculator
  • Listings
    • Open Houses
    • New Listings
    • Sold Homes
    • Listings Blog
  • Home Value
  • Resources
    • Real Estate Advice
    • Granby CT >
      • Granby area photos
    • East Granby CT
    • Simsbury CT
    • Avon CT
    • Canton CT
    • New Hartford
    • Barkhamsted
    • Bloomfield
    • Suffield
    • West Hartford
    • Western MA >
      • Westfield MA
      • Southwick MA
  • New Listings
  • Join Real Broker LLC