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Homeownership Benefits

by www-michellerosser-comFebruary 04, 2020

Homeownership

Are you trying to decide if you should buy a home this year because of the low rates?  There are a lot of pros and cons of buying a home. Deciding whether the benefits outweigh the work is important in making a good decision.

Benefits of Homeownership

Homeownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make changes. Neighborhoods with high rates of homeownership have less crime and more civic engagement. Additionally, studies show that homeowners are happier and healthier than renters, and their children do better in school.1

Building Wealth

But one of the biggest perks of homeownership is the opportunity to build wealth over time. Researchers at the Urban Institute found that homeownership is financially beneficial for most families,2 and a recent study showed that the median net worth of homeowners can be up to 80 times greater than that of renters in some areas.3

So how does purchasing a home help you build wealth? And what steps should you take to maximize the potential of your investment? Find out how to harness the power of home equity for a secure financial future.

To find out the answer to this and other questions set up a consultation with HBM Realty team. We will work with you to list the pros and cons of owning a home and help you decide if you are ready to purchase a home.  We will develop an action plan that will assist you in getting ready to buy a home. Click here to request an appointment. This is a free consultation with a home counselor.  Feel free to call or text us at (direct) 678-524-3032. We can also be reached by email at [email protected]

 

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

 

Sources:

  1. National Association of Realtors –
    https://www.nar.realtor/blogs/economists-outlook/highlights-from-social-benefits-of-homeownership-and-stable-housing
  2. Urban Institute –
    https://www.urban.org/urban-wire/homeownership-still-financially-better-renting
  3. Census Bureau –
    https://www.census.gov/library/stories/2019/08/gaps-in-wealth-americans-by-household-type.html
  4. Remodeling Magazine –
    https://www.remodeling.hw.net/cost-vs-value/2019/
  5. Investopedia –
    https://www.investopedia.com/mortgage/heloc/home-equity/
  6. Bankrate –
    https://www.bankrate.com/mortgage/reverse-mortgage-guide/

 

 

 

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Michelle Rosser

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