Owing a Home vs. Renting In The Northwest Valley? Homeowners Have A Net Worth 44x Greater Than Renters
Owing a Home
Did you know that when Owning a Home, the net worth of a homeowner is 44 times greater than that of a renter? Hi, I’m Shawna Kurowski with the Desert Charm Living Real Estate Team.
Net Worth of a Homeowner
Every three years the Federal Reserve conducts their survey of consumer finances. Their latest survey revealed that the median net worth of a homeowner was $231,400. A 15% increase. At the same time, the median net worth of a renter decreased from $5,500 to $5,200. This shows that when Owing a Home, the net worth of a homeowner is over 44 times greater than that of a renter.
Owing a Home is a great way to build family wealth. Every time you pay your mortgage, you’re contributing to your net worth by increasing the equity in your home. It may surprise you to learn that you may be able to own for less than the cost of your current rent payment.
There are many down payment assistance programs available, and you may not always need 20 or even 10 percent down.
We would love to see what we can do to help you achieve your goal of Owing a Home. Call or Text us today – 602-529-3380
Have a great day everyone 🙂 Thanks for watching, see you soon.
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Desert Charm Living Real Estate Team
Call or Text: 602-529-3380
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