How owning a home can improve your net worth.
Today more than ever, owning a home is not only a big achievement but also a major financial
milestone to your net worth. This is because as a homeowner you are able to build equity in
your home which in turn gives your networth a boost. Hi, I’m Cynthia Lowry with Brokers Guild Real Estate, here to tell you if you want to increase your financial security…… Now
might be a good time to invest in real estate homeownership. A recent report from the National
Association of Realtors talks about the net worth of a homeowner compared to that of a renter
and finds that the average homeowner’s net worth is roughly 40 times that of a renter. This is
because as a homeowner, your equity grows as your home appreciates in value and you
continue to make monthly mortgage payments to your loan. If you are a renter, you do not have
this opportunity. In a recent article from CNET it was noted that “Homeownership is still
considered one of the most reliable ways to build wealth. When you rent, you are not investing
in your financial future the same way you are when you are paying off a mortgage.” In most
markets, home equity will continue to build wealth over time and your home will become an
asset that has the potential to appreciate in value as you continue to pay down the balance of
your mortgage. So, if you are looking to finally stop renting and want to purchase, please reach
out to my team and I, so we can help you strategize the best way possible to achieve your
dream…… and help build your financial net worth along with it. I’m Cynthia Lowry and remember, I love what I do and will advocate for you!
cynthialowryrealestate 