The Dramatic Impact of Homeownership on Net Worth
Posted by Dan Kennedy on
If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision. One reason a wealth gap exists between renters and homeowners is because when you’re a homeowner, your equity grows as your home appreciates in value and you make your mortgage payment each month. When you own a home, your monthly mortgage payment acts like a form of forced savings, which eventually pays off when you decide to sell. As a renter, you’ll never see a financial return on the money you pay out in rent every month.
"The biggest asset most people are ever going to own is a home. Homeownership is really that financial key that helps unlock stability and wealth preservation…
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