Owning A Home Can Offer You Wealth

The two biggest reasons that Americans prefer owning their own home instead of renting are:

1. They want to be able to build equity.

2. They want to have a safe and stable environment.


Equity

Buying and owning a home is the essence of the American dream. Your monthly housing payments will go towards your personal wealth and assets, versus going to the owner of your rental. This results in homeowners building a net worth that is much higher than the net worth of renters.


Safety and Stability

Two reasons why tenants are not as stable as homeowners:

• 68% of property managers predict that rental rates will rise by an average of 8% in the next year.
• 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than to negotiate and renew a lease with the current tenant.

Bottom Line

Homeowners have the opportunity to build their family's net worth, and have more stability.