It's National Homeownership Month ~ Reason #9 To Own Your Own Home

By
Real Estate Agent with Coldwell Banker Realty

 

 

It's National Homeownership Month in June and here's Reason #9 why you should own your own home:

 

 

OWNING A HOME IS INVESTING IN YOUR RETIREMENT

 

 

Reason #9 To Own Your Home

 

Owning your own home can be considered a form of "forced" savings as you build equity and is a critical aspect of investing in/planning for your eventual retirement. See the chart below showing how average home equity increases with age, providing a very respectable "nest egg" for many prospective retirees. As a renter you never have the opportunity to build this "nest egg" for your retirement.

 

Average equity in home by age group

 

 

As an "investment," your home can provide tax-free profit on the sale of your home, if/when you choose to do that with the first $250,000 of profit tax free if you are single and the first $500,000 in profit tax free for married couples.

 

Another consideration if you have a low, fixed rate mortgage ~ you can take advantage of paying back your debt with "inflated" dollars. In other words, with fixed rate mortgages,  payments never change. Yet 10, 20, 30  years from now, you pay off the same amount of debt with dollars that might not be worth as much as when you first took out the mortgage. As net worth grows, the mortgage liability becomes a smaller part of overall net worth.

 

As home values are projected to increase over the next five years, take a look at the following charts to see the impact of home value appreciation on family wealth on a home valued at $250,000 in January 2015. If homes appreciate  by the projected mean percentage appreciation between 2015 and 2019, a family's wealth increases by almost $48,000 in that time frame.

 

projected mean percentage appreciation of home values

 

 

 

 

No doubt that for many Americans, their home is one their most important financial assets providing security in retirement. Investing in your own home as a path to investing in your retirement is a great idea and a great reason to own your own home.

 

 

If you are a renter, who would like to make the transition from renter to homeowner, contact Nina Hollander/Carolinas Realty Partners with Coldwell Banker Residential Brokerage.

We can help you turn your rent payments into mortgage payments!

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

If you are considering purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

 

 

Related Articles On National Homeownership Month:

 

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 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Rainmaker
1,727,406
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Nina Hollander you knew I was going to like this one didn't you. Also this comment puts me over the 400,000 point mark and I wanted it to be YOU who lifted me this high. Love!

Jun 22, 2015 12:58 AM #1
Rainmaker
2,882,411
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I love this reason for ownership, as most people are close to paying off their home when they are ready for retirement and it provides a great asset to rely on, should they run into tough times financially.

Jun 22, 2015 01:21 AM #2
Rainmaker
719,075
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Nina, I always enjoy reading your posts, and then commenting. It is nice that you always answer comments, but last time you ignored me. Did I offend you? I sure hope not, as I want to continue to participate on your posts.

Bill Roberts

Jun 22, 2015 01:37 AM #3
Ambassador
4,170,537
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Nina-owning a home can prove to be a good investment for your retirement. 

Jun 22, 2015 01:57 AM #4
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Kathy, people think of houses as a place to put a roof over their families' heads, but I find myself often reminding buyers that a home is a major financial investment, as well, and we shouldn't lose sight of that fact in our decision making of what to buy.

Kathy Streib

Jun 22, 2015 03:59 AM #5
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ so many people are so bad at saving, paying off a mortgage and building equity is a way to do it without noticing--afterall, you have to live somewhere!

Jun 22, 2015 04:00 AM #6
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm ~ Bob, so happy to be of service! Congratulations on the 400,000 points. Let me know when you're ready to hit 500,000 and I'll see what I can do with a post to bring you over that finish line!

Jun 22, 2015 04:01 AM #7
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Bill Roberts ~ my husband is in hospital with a bad blood infection post-biopsy last week. So I've been running back and forth and trying to keep deals percolating, etc. I think I've probably missed some comments in the process, as I'm doing AR "on the side," so to speak.

Jun 22, 2015 04:02 AM #8
Rainmaker
1,888,775
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Another great post about the benefits of home ownership. Love this series.

Jun 22, 2015 04:21 AM #9
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lottie Kendall ~ thanks, Lottie. I have reason #10 to come yet. And maybe, if I get sufficiently inspired I might come up with a #11!

Jun 22, 2015 04:22 AM #10
Rainmaker
1,268,318
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

As I move closer and closer to THAT end life, this reason to own grows even bigger and bigger in importance to my wife and me, Nina Hollander.  There's a whole lot of us Boomers out there too.  Keep the great info coming, Nina ...

Gene 

Jun 22, 2015 04:55 AM #11
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Gene ~ it's so easy for home owners and renters to forget the "investment" aspect of their home ownership until they get a bit older. But figuring that when you are older and have built no equity by renting long term, doesn't get you to the financial independence you might want.

Gene Mundt, Chicago-area Mortgage Lender - www.genemundt.com

Jun 22, 2015 05:00 AM #12
Rainmaker
4,825,297
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

That is a good thought for home ownership...it is a form of forced savings.  Excellent point.  Wishing you a great week. A

Jun 22, 2015 06:38 AM #13
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Thanks, Ron and Alexandra Seigel ~ given the low rate of savings in America, this is surely one way to "force" some.

Jun 22, 2015 07:13 AM #14
Rainmaker
719,075
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Nina, I'm very sorry to hear that. I hope he gets better soon.

Bill Roberts

Jun 22, 2015 11:41 PM #15
Rainmaker
3,445,627
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Thanks, Bill Roberts ~ heading out to the hospital right now. Hopefully, he'll be sent home in the next day or two.

Jun 22, 2015 11:45 PM #16
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