Summer Mitchell - Windermere

With a housing market this competitive, you may need to think outside the box. Trusted real estate advisors can help with things like assessing your budget, expanding your search radius, looking into other options, and determining your true needs. DM me today if you're having trouble finding your first home so we can explore options together!

Two major personal wealth goals – homeownership and net worth – work hand-in-hand. Below are just a few reasons why, if you’re looking for financial security, homeownership should be a top priority.

The gap between homeowners and renters continues to widen. That’s because homeownership contributes massively to an individual’s overall net worth. Odeta Kushi, Deputy Chief Economist at First American, highlights this idea. “. . . between 2016 and 2019, housing wealth was the single biggest contributor to the increase in net worth across all income groups . . . .” When we look even closer at the most recent data from 2019, the average homeowner’s net worth is more than 40 times greater than that of the average renter.

The gap exists in large part because homeowners build equity as their home appreciates in value and they pay off a portion of their mortgage each month. When you own your...

The Difference in Net Worth Between Homeowners and Renters Is Widening Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It sh...