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386 315 4744
James@JamesJestes.com

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Growing Your Net Worth with Homeownership

Growing Your Net Worth with Homeownership Simplifying The Market

Imagine where you want to be in a few years. You might be thinking about your job, wanting more financial stability, or setting goals you wish to achieve soon. Is owning a home a part of that vision? If it is, you should know that homeownership comes with a lot of financial benefit

Owning a home is a smart investment because it helps you build wealth and achieve financial security. As the value of homes typically appreciate over time, it increases your net worth. Currently, the value of homes is on the rise, as reported by Zillow.

“The total value of the U.S. housing market – the sum of Zillow’s estimated value for every U.S. home – is now slightly less than $52 trillion, which is $1.1 trillion higher than the previous peak reached last June.”

Homeownership is a great way to build wealth, and with home values rising nationwide, it may be a good time to consider owning a home.

Here’s a look at some data to see how much owning a home can really make a difference in your life.

Household Net Worth Is Rising

Data shows that while those in the top 1% saw the most dramatic net worth increase, people from every single tax bracket have seen their wealth grow over the past few years (see graph below):

 

For many of those people, the rising value of their home plays a big part in that.

Owning a Home Helps You Achieve Financial Success

You can tell homeownership had a lot to do with that growth because there’s a significant net worth gap between homeowners and renters. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

 “. . . homeownership is a catalyst for building wealth for people from all walks of life. A monthly mortgage payment is often considered a forced savings account that helps homeowners build a net worth about 40 times higher than that of a renter.”

The big reason why? Homeowner’s build equity. Home equity is the value of your home minus the amount you owe on your mortgage. And for most homeowners, that’s the largest contributor to their net worth. Here’s the data from First American to prove it (see graph below):

 

The blue part of each bar in the chart represents the proportion of net worth that comes from housing – and it is clearly a more significant contributor than other investments such as stocks, gold, and cryptocurrencies. As you can see, regardless of income levels, owning a home does more to increase the wealth of an average household than any other investment.

Bottom Line

Investing in homeownership can grow your net worth. Contact me , James Jestes 386-315-4744 to learn more.

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
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580 Rio Vista Avenue Daytona Beach, FL 32114
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
231 Riverside Drive 1602-1 Daytona Beach FL 32117
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This exquisite 16th-floor condo at Marina Grande has been meticulously remodeled with no expense spared. The 3-bedroom, 3-bath unit features a Viking cooktop, high-end LG kitchen appliances, and Samsung stacked washer/dryer. The kitchen boasts stunni

Listing courtesy of James Jestes of EXP Realty LLC
330 Rodeo Road Ormond Beach FL 32174
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Stunning country living at its best on a paved road. Fully updated property. Roof fully replaced with metal roof in 2021. Windows upgraded to Paella double pane insulated. A/C replaced 2023. Three stall pole barn with electric and water throughout. A

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27 Bay Court Ormond Beach FL 32174
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This custom home built in 2018 sits on over ¾ of an acre, which is one of the largest parcels in all of Plantation Bay. The back yard is secluded with a very private parklike setting with a small creek that runs alongside the east side of the propert

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Related posts:

  1. The Dream of Homeownership Is Worth the Effort
  2. Homeownership is the Top Contributor to Your Net Worth
  3. The U.S. Homeownership Rate Is Growing
  4. The Difference in Net Worth Between Homeowners and Renters Is Widening

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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eXp Realty
386-315-4744
James@JamesJestes.com

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