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Homeownership is the Top Contributor to Your Net Worth

Share

Homeownership is the Top Contributor to Your Net Worth

Sandy Blanton

BIO: Broker Sandy Blanton is a Pensacola native has been a leader in the gulf coast's real estate industry over the past 30 years...

BIO: Broker Sandy Blanton is a Pensacola native has been a leader in the gulf coast's real estate industry over the past 30 years...

Nov 30 2 minutes read

Homeownership is the Top Contributor to Your Net Worth


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 | MyKCMThis 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 | MyKCM                                                                   

John 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 of owning a home. If you would like to increase your net worth, let’s get together so you can learn all the benefits of becoming a homeowner.

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