Are You Ready to Create More Wealth for Your Family?
If you are ready to create more wealth for your family read on…..
In a national survey released last month by the National Association of Realtors revealed that 5 major reasons Americans prefer owning their own home vs. renting are:
- They want the opportunity to build equity for their family.
- They want a stable and safe environment for their family’s foundation.
- More than eight in 10 Americans believe that purchasing a home is a good financial decision, and 68 percent believe that now is a good time to buy a home.
- Sixty-one percent of renters now say that eventually owning a home is one of their highest personal priorities, up 11 points from 2013.
- Respondents expect to see continued improvement in the local Northern Colorado real estate market, as 89 percent expect real estate sales to increase or remain the same.
In a recent article by The Mortgage Reports, they report that “buying and owning a home is the essence of ‘The American Dream.’ Each month, your housing payments go toward owning your home instead of renting it; building your personal wealth and assets instead of someone else’s. History has shown that homeownership is a clear path to wealth-building, with homeowners boasting a net worth [that is] multiples higher than the net worth of renters.”
This happens because a renter “owns nothing” while living in a rental home. A homeowner, by contrast, owns the home and, as the home’s value increases, the owners reap those rewards.
Does owning your home really create a more stable environment for your family? A survey of property managers conducted by rent.com disclosed two reasons tenants should feel less stable with their housing situation:
- 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
- 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than to negotiate and renew a lease with a current tenant they already know.
We can see from these survey results that renting will provide anything but a stable environment in the near future.
Homeowners enjoy a more stable environment, are able to create “their own living spaces,” receive various tax breaks, and at the same time are given the opportunity to create more wealth for their family’s net worth.
It’s truly an Awesome Win Win for everyone involved.
If you or anyone you know has any real estate needs, I’d love the opportunity to help.