Buy vs. Rent
The Tangible and Intangible Benefits of Homeownership
While it’s true that buying a piece of property is a major investment, it’s a myth that most renters can’t afford it. In fact, there are many paths to homeownership for people from all sorts of financial positions. No matter the journey, they can all lead to some very attractive incentives.
Tangible
Net worth of homeowners is over 80x greater than that of renters, according to the U.S. Census Bureau
According to the same report, home equity and retirement accounts are the two biggest contributors to wealth
Home equity credit lines can help pay other debts, such as credit card debt, auto loans, student loans, or medical bills
Homeowners may break even on their investment in as little as five years in some markets
Intangible
Homeowners feel a greater sense of community and are more likely to engage in civic responsibilities
The sense of control homeownership provides positively improves physical and mental health.
Children of homeowners are more likely to have higher levels of academic achievement
Crime rates tend to be lower among homeowners and people living in stable housing environments
And the biggest benefit of all: the ability to truly own the place that you call home. Ready to become a homeowner? Connect with us today and let the journey begin!
Have questions about buying a house?
Make an appointment with a Keller Williams Pasadena Real Estate Agent.
Written by Keller Williams International. Photo by unsplash
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