{"id":1167,"date":"2020-10-07T13:05:40","date_gmt":"2020-10-07T13:05:40","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1167"},"modified":"2022-07-04T23:49:54","modified_gmt":"2022-07-04T23:49:54","slug":"homeowners-net-worth-40x-greater-renters","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/homeowners-net-worth-40x-greater-renters\/","title":{"rendered":"A Homeowner\u2019s Net Worth Is 40x Greater Than a Renter\u2019s"},"content":{"rendered":"
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A Homeowner\u2019s Net Worth Is 40x Greater Than a Renter\u2019s<\/p><\/div>\n

One of the best ways to build your family\u2019s financial future is through homeownership. Recent data from the\u00a0Federal Reserve<\/em>\u00a0indicates the\u00a0net worth of a homeowner is actually over 40 times greater than that of a renter<\/strong>. Maybe it\u2019s time to start thinking about buying a home, especially when they\u2019re so\u00a0affordable<\/a>\u00a0in today\u2019s market.<\/p>\n

Every three years the\u00a0Survey of Consumer Finances<\/em><\/a>\u00a0shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more desirable for those who are ready.<\/p>\n

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Increasing Gap in Family Wealth<\/p><\/div>\n

Owning a home is a great way to build family wealth.<\/strong><\/h4>\n

For many families, homeownership serves as a form of \u2018forced savings.\u2019 Every time you pay your mortgage, you\u2019re contributing to your net worth by increasing the\u00a0equity<\/a>\u00a0you have in your home\u00a0(See chart below):<\/em><\/p>\n

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40X Greater Net Worth<\/p><\/div>\n

The impact of home equity is part of why\u00a0Gallup<\/em>\u00a0reports that Americans picked real estate as the best long-term investment for the\u00a0seventh year<\/a>\u00a0in a row. According to this year\u2019s survey, 35% of Americans chose real estate over stocks, savings accounts, gold, and bonds.<\/p>\n

Today, there are great opportunities available for those planning to buy a home. The\u00a0housing market<\/a>\u00a0has made a full recovery, and all-time low\u00a0interest rates<\/a>\u00a0are giving homebuyers a big boost in purchasing power. If you\u2019re ready, buying a home this fall can set you up to increase your net worth and create a safety net for your family\u2019s future.<\/p>\n

Bottom Line<\/strong><\/h3>\n

To learn how you can use your monthly housing cost to build your family\u2019s net worth, let\u2019s connect so you have a trusted professional to guide you through the homebuying process.<\/p>\n

 <\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

One of the best ways to build your family\u2019s financial future is through homeownership. Finish Reading A Homeowner\u2019s Net Worth Is 40x Greater Than a Renter\u2019s<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[38,167,10,18,27,52,208,32,203,25,9,49,42,23,46,12,48,13,47,19],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1167"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1167"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1167\/revisions"}],"predecessor-version":[{"id":1171,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1167\/revisions\/1171"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}