Renters How owning a home can improve your net worth

Attention, renters! How owning a home can improve your net worth. Today more than ever, owning a home is not only a big achievement, but also a major financial milestone to your net worth. This is because as a homeowner, you’re able to build equity in your home, which, in turn, gives you net worth boost. If you want to increase your financial security, now might be a good time to invest in real estate home ownership. As an experienced agent of 22 years, the net worth of a homeowner compared to that of a renter finds that the average homeowner’s net worth is roughly 40 times that of a renter. This is because as a homeowner, your equity grows as your home appreciates in value and you continue to make monthly mortgage payments to your loan. You can rent. You’re not investing in your financial future the same way as when you are paying off a mortgage. In most markets, home equity will continue to build wealth over time and your home will become an asset that has potential to appreciate in value as