Owning Real Estate: The Path To Financial Security
Owning real estate is one of the best long term investments most people make that helps them build weath and financial security. And it typically starts with buying one's own home. Of course, there's always the question "when is the best time to buy?" Trying to time the real estate market perfectly would be like trying to time the stock market perfectly... it's virtually impossible to do.
One thing we know is that the net worth of a homeowner is much greater than that of a renter. The most recent Federal Reserve Survey of Consumer Finances revealed that the median net worth of a homeowner increased by 15% between 2013 and 2016 to $231,400 and that the net worth of a homeowner is 44+ times greater than that of a renter. During this same time frame, the net worth of a renter decreased by 5%. And if you're a homeowner over the age of 65, your net worth is 48 times greater than that of a renter. The projections for the next five years indicate that family wealth will continue to increase based solely on increased home equity. If these numbers don't convince you that owning real estate is a path to financial security, it's hard to say what would.
And it would appear that Americans, in general, agree that real estate is the best long term investment. For the sixth year in a row, Gallup's survey showed real estate came out on top of all other financial investments. When Andrew Carnegie said "90% of all millionaires become so through owning real estate," he just may have known something a long time ago that's true to this day.
Real Estate Remains America's Choice For Best Long-Term Investment
Wondering If You Should Wait A Year To Buy A Home?
The video below clearly shows what waiting even one year would "cost" you. Why not start building your wealth and financial security today?
If you're a renter who wants to start to build wealth, and become a homeowner, you can:
This information about buying a home today and not delaying your road to building wealth is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We have been opening doors to homeownership for Charlotte region renters for 20+ years. We can open the door to your dream home, too!
If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how: