Real Estate

Your Rent Money is Building Someone Else’s Net Worth!

Face it, if you’re renting, you’re contributing to someone else’s net worth. You’re helping them build wealth in one of two ways. You’re paying their mortgage, so they can build equity in the home you’re paying for, or you’re putting money in their pocket if the house is paid off.

On average, the net worth of homeowners is 40 TIMES GREATER than that of renters! That’s a huge number. For many households, home equity is the sole source of wealth creation.

3 Reasons You Should Buy a Home

  • Rent will increase, your mortgage payment won’t. (Be informed though, you still have to pay taxes and insurance.)
  • When you buy a home, you build wealth through home equity, which is the difference between the current market value of your home and any liens, such as your mortgage, on the property.
  • Equity can be used as leverage to pay for other expenses.

But What About…?

Right now, if you’re thinking about all the negatives, stick with me. I’ll cover buyer resources, interest rates and more home ownership advantages in later posts and videos.

You can find me and more things real estate on Instagram at Linda Goff – REALTOR® (@whereweabide) • Instagram photos and videos