Every 3 years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
The graph below demonstrates the dramatic results and why home ownership is preferable to renting:
Put Your Housing Cost to Work for You
Purchasing a home s a good financial decision that can reward you over time. Here are just some of the numerous reasons to own:
If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, contact us so we can evaluate your ability to buy today!