A Lancaster Co.,PA Home will increase your Net Worth !

By
Real Estate Agent with KW Elite
https://activerain.com/droplet/56sZ

Homeowner’s Net Worth Is Still Greater Than a Renter’s

Homeowner’s Net Worth Is Still Greater Than a Renter’s | MyKCM

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). 

The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association of Realtors’ Chief Economist estimates that the gap has widened even further, to 45 times greater ($225,000 vs. $5,000)! 

Put Your Housing Cost to Work for You

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home. 

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today!

Buyers, your first step is to obtain Mortgage Pre-Approval !  Email mikeperrykw@gmail.com to get started !
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Don Hess 08/15/2017 02:03 PM
Topic:
Real Estate General Information
Location:
Pennsylvania Lancaster County Lancaster Willow Street
Groups:
1st Time Buyers
ABR-Accredited Buyer Representatives
Keller Williams Active Rain Bloggers
Keller Williams
Buyer Information - What Buyers Need to Know in Today's Market
Tags:
first time buyers
obtaining a mortgage
west lampeter real estate news
penn manor real estate news
solanco real estate news
conestoga valley real estate news
hempfield real estate news
obtaing preapproval
increasing net worth

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Rainmaker
3,436,868
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Michael. Home ownership has made many wealthy. After a long hiatus, ownership is back! Enjoy your day!

Aug 14, 2017 04:54 AM #1
Rainmaker
5,611,289
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Home buyers will be in very good hands when they use your professional real estate services.

Aug 14, 2017 05:00 AM #2
Rainmaker
270,237
Don Hess
KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 - Quarryville, PA

I've said it many times before Mike. When you pay rent you're buying the property for the Land Lord.

Aug 15, 2017 01:55 PM #3
Rainer
211,700
Laura T. Perry
Keller Williams Elite - Lancaster, PA
CRP, GMS, Award Winning Relocation Specialist

People need forced savings otherwise they would spend most of their earnings !

Feb 26, 2018 07:09 AM #4
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Michael J. Perry

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