Build Wealth with a Lancaster Co.,PA Home !

By
Real Estate Agent with KW Elite

Net Worth of Homeowners 44X Greater than Renters

Net Worth of Homeowners 44X Greater than Renters | 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 data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $231,400 - a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth

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 by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process.

 One piece of real estate will be huge in your Retirement plans !
 
Your first step is obtaining 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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Topic:
Real Estate General Information
Location:
Pennsylvania Lancaster County Lancaster Willow Street
Groups:
1st Time Buyers
ABR-Accredited Buyer Representatives
Keller Williams
Keller Williams Realty Referral Group
Buyer Information - What Buyers Need to Know in Today's Market
Tags:
first time buyers
first home
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

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Rainmaker
1,762,209
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

this is always an important message to share with potential buyers - thanks for sharing

Oct 16, 2017 05:04 AM #1
Ambassador
3,155,794
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I always remind people not to waste that precious equity in their homes on something frivolous Michael J. Perry 

Oct 20, 2017 07:16 PM #2
Rainmaker
4,798,120
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Michael.  For the vast majority of homeowners, their real estate investment is their biggest and best-performing asset.

Oct 21, 2017 06:47 AM #3
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Michael J. Perry

Lancaster, PA Relo Specialist
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