Posted in Buying a Condo, Buying a home, Real Estate

Is owning a home a good way to build wealth?

Homeownership’s Impact on Net Worth
Posted: 09 Apr 2014 04:00 AM PDT

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. A study by the Federal Reserve formally answered this question.

Some of the findings revealed in their report:
•The average American family has a net worth of $77,300
•Of that net worth, 61.4% ($47,500) of it is in home equity
•A homeowner’s net worth is over thirty times greater than that of a renter
•The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100
Bottom Line

The Fed study found that homeownership is still a great way for a family to build wealth in America.

Search for homes: http://www.washingtonrealestate4u.com/

Author:

I am a Residential Real Estate Agent. I love my job! I love to help people build wealth by investing in real estate. I help both buyers and sellers in Washington state - primarily King and Pierce Counties. I grew up in the area so I know it well. I graduated with a Business Administration degree with an emphasis in Marketing from the University of Washington. I like to have fun. I enjoy meeting new people, social events and many outdoor activities - soccer, golf, camping, boating, crabbing. In my spare time I like to volunteer and give back to my community. I am the Past President of the Bonney Lake Chamber of Commerce. I am always available for any questions. Please use me as your real estate resource.

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