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Homeownership is the Top Contributor to Your Net Worth

Homeownership is the Top Contributor to Your Net Worth | Keeping Current Matters

Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth,

“The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below):

Homeownership is the Top Contributor to Your Net Worth | Keeping Current MattersThis does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea,

 “Net worth is an important indicator of economic well-being and provides insights into a household’s economic health.”

Having equity in your home can help your family move in that direction, building toward substantial financial growth. According to the report noted above, people are not only creating net worth in the homes they live in, but many are also earning equity in rental property investments too. (See below):Homeownership is the Top Contributor to Your Net Worth | Keeping Current MattersJohn Paulson said it well,

If you don’t own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”

Bottom Line

There are financial and non-financial benefits to owning a home. If you would like to increase your net worth, meet with a local real estate professional to help you understand all the benefits of becoming a homeowner.

The post Homeownership is the Top Contributor to Your Net Worth appeared first on Keeping Current Matters.

HOME All Listings Featured Listings Sold Listings Sell My Home Home Evaluation AffordabilityCalculator MortgageCalculator Home Mortgage Cave Creek Carefree Scottsdale Paradise Valley Phoenix Fountain Hills Peoria Anthem Tempe Glendale Chandler Gilbert Mesa Prescott Flagstaff Sedona Tucson Show Low Pinetop-Lakeside DC Ranch McDowell Mountain Ranch Old Town Scottsdale Troon North Pinnacle Peak Carefree Grand View Estates Carefree Foothills Dove Valley Estates Leigh Estates Arroyo Trails I at Dove Valley Ranch Montacino Longview Estates Lone Mountain Desert Forest Park Dove Valley Ranch Highlands at Canyon Ridge Carefree Sentinel Rock Canyon Ridge Estates Palos Verdes Black Mountain Foothills Cave Creek South Black Mountain Shadows Provence The Villas at Black Mountain Tranquil Place Whispering Hills The Enclave at Dove Valley Ranch Camino de la Cruz Red Dog Ranch Emerald Greens at Dove Valley Ranch Mystic Ridge at Dove Valley Ranch The Crossings at Canyon Ridge Azure Hills Estates Panoramic Estates Continental Mountain Estates Desert Enclave Ridgeview Estates Crossings at Carefree Willow Springs Estates Nighthawk on Black Mountain Boulder Vista Estates Terraza at Dove Valley Ranch Blue Ridge Hills Stagecoach Pass Estates Desert Vista Trails Surrey Hills Arroyo Trails II at Dove Valley Ranch Rockaway Hills Colina Del Norte Rancho Manana Hawksnest Vista Montana at Dove Valley Ranch Cave Creek Mesquite Ranch Miramonte Carroll Heights Los Reales Ocotillo at Dove Valley Ranch Canyon Creek Estates Loringwood Estates Ridgecrest Highlands Las Ventanas Mystic Ridge II at Dove Valley Ranch Ocotillo Ridge Estates Estado de Cholla Vista Norte Lost Acres Hidden Valley North Entrada Scottsdale Heights Villagio at Dove Valley Ranch Arissona at Rockaway Valley Village at Miravista Tatum Ranch Clarendon Estates Hidden Valley Desert View Desert Fairways Azure Creek Ashler Hills Estates Tatum Village Cimarron at Tatum Ranch Casas del Cielo Desert Manor Estates The Enclave Desert Wind Toscana Falcon Ridge Quail Run Desert Ridge Terra Vista Ventana Chaparral Dove Valley Ranch Tapestry Lone Mountain Desert Willow Estates Amberwood Estates La Tierra Prometida Grayhawk Tatum Ranch Gray Wolf Central Scottsdale Desert Foothills North Kierland The Summit New on Market Private Pool AS SEEN ON HGTV YOUR TEAM REALTOR.COM YOU TUBE FACEBOOK ZILLOW SELLER FINANCED HOMES RENT TO OWN HOMES LEASE TO OWN HOMES SELL HOUSE FAST REVIEWS BLOG CONTACT