One of the many reasons to buy a housz is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac: “Building equity through your monthly principal payments and appreciation is a critical part of houszownership that can help you create financial stability.” With spring approaching, now’s a great time to consider if buying a housz makes sense for you. The best way to figure that out is to talk with a trusted real estate professional.
The Largest Part of Most Houszowners’ Net Worth Is Their Equity You may be surprised to learn just how much of a houszowner’s net worth actually comes from owning their housz. The National Association of Realtors (NAR) shares: “Houszownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families. Houszing wealth (housz equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”
In other words, housz equity does more to build the average houszhold’s wealth than anything else. And according to data from First American, this holds true across different income levels (see graph below):
Bottom Line One of the biggest benefits of owning a housz, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect today so you can start investing in houszownership.
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