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Did you know that the average homeowner has a net worth 38 times...

By
Real Estate Agent with Berkshire Hathaway HomeServices California Properties 01238708

Did you know that the average homeowner has a net worth 38 times higher than the average renter?

www.endrebaath.com

Well as a seasoned Realtor I did know this, ironically not all buyers do and many buyers are not willing to compromise the "better" rental location to what they can afford in their "budget".  Sadly, that is an ego and status problem. In the long run the renters lose out.

www.endrebarath.com

Yes, there are benefits to calling the landlord or the manager if there is an issue when it comes to plumbing, electricity and other issues. On the other hand, a few calls to a good electrician and a plumber as a homeowner goes a long way. Just my two cents.

www.endrebarath.com

Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly! If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 ( m) homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com I contribute a portion of my commission to local animal rescue organizations. Endre Barath, Jr. Realtor at Berkshire Hathaway HomeServices California Properties DRE#01238708

 

 

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Calling a home can be good, but the main reason to own one is to have something that represents you  and authentically invvarious ways. 

May 28, 2024 11:16 PM
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

There are people who encourage people to rent instead of buy but they are not doing them any favors! We do property management, and we have people who stay in homes for 5 to ten years! the same with apartments! We have had some people live in the same apartment for over 20 years.  They are happy but, in the end, they have nothing to show for themselves. 

May 29, 2024 12:53 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Wow, that is quite a stat, I will be sure to use this going forward, thank you!!

May 29, 2024 04:03 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

There are definitely benefits to both renting and purchasing, depending on a person's life situation. That being said, owning real estate can indeed help one's net worth!

May 29, 2024 04:41 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Endre. There are reasons to justify renting but it is for a very small percentage of the population. Since home equity is most likely the largest asset of most people, owning trumps renting. Someone is building equity and if you are the owner, it is you. Enjoy your day.

May 29, 2024 04:52 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning chef Endre,

That is a valuable stat to carry in your tool belt. I agree with Wayne Martin there is a small percentage of the population that renting makes sense.  Everyone who can should strive to own a home and build equity.

May 29, 2024 04:56 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Endre, While there are a few valid reasons that someone must rent, I can't imagine ever choosing to rent!

May 29, 2024 04:58 AM
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

Endre Barath, Jr. 

I will have to agree with you, the homeowners and landlords win.

May 29, 2024 05:13 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am not surprised at that, since renting only builds up a landlord's net worth and does nothing for the person renting, other than give them a place to live, haha.

May 29, 2024 05:15 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Endre... I did know that. And there are some statistics that say the number is 40x, not just 38x. Whichever is or isn't correct, what I do know is that the differential increases all the time.

May 29, 2024 07:31 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

I learned early on that I didn't want to be a tenant. Once I figured the annual sum paid to the landlord, I quickly decided I would invest in myself. PS: Is that photo from your personal vault? :/

May 29, 2024 07:51 AM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Endre, the 2nd photo is a very impressive shot of your well stocked pantry.  lol.  Enjoy the rest of the week.  m

May 29, 2024 08:09 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Endre given the growth in the equity of homes over just the last 3-4 years, I would not have been surprised if had even been higher.

May 29, 2024 01:36 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Endre- this is a good stat to put out there for those hesitant right now. 

May 29, 2024 06:59 PM