Homeownership Is The Top Contributor To Your Net Worth

Dated: October 9 2019

Views: 198

Homeownership is the Top Contributor to Your Net Worth

Homeownership is the Top Contributor to Your Net Worth | MyKCM

Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth,

“The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below):

Homeownership is the Top Contributor to Your Net Worth | MyKCMThis does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea,

 “Net worth is an important indicator of economic well-being and provides insights into a household’s economic health.”

Having equity in your home can help your family move in that direction, building toward substantial financial growth. According to the report noted above, people are not only creating net worth in the homes they live in, but many are also earning equity in rental property investments too. (See below):Homeownership is the Top Contributor to Your Net Worth | MyKCMJohn Paulson said it well,

If you don’t own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”

Bottom Line

There are financial and non-financial benefits to owning a home. If you would like to increase your net worth, let’s get together so you can learn all the benefits of becoming a homeowner.

Latest Blog Posts

What Is The 1 Financial Benefit Of Homeownership

What Is the #1 Financial Benefit of Homeownership?There are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation. Homeownership has

Read More

Will Low Mortgage Rates Continue Through 2021

Will Low Mortgage Rates Continue through 2021?With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021,

Read More

3 Reasons To Be Optimistic About Real Estate In 2021

3 Reasons to Be Optimistic about Real Estate in 2021This year will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a

Read More

Your House May Be High On The Buyer Wish List This Holiday Season

Your House May Be High on the Buyer Wish List This Holiday SeasonAround this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who

Read More