The Difference in Net Worth Between Homeowners and Renters Is Widening
[ad_1] Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It shows there may be a significant misconception about the […]
Don’t Get Caught in the Rental Trap in 2019
[ad_1] Every year around this time, we take time to reflect and plan for next year. If you are renting your current home but have dreams of homeownership, your plan for the new year may include buying, and you wouldn’t be alone! According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters […]
Homeowners Aged 65+ Have 48x More Net Worth Than Renters
[ad_1] Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth […]
4 Reasons to Buy A Home This Winter!
[ad_1] Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Insight report revealed that home prices have appreciated by 5.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next […]
The Cost of Renting vs. Buying a Home [INFOGRAPHIC]
[ad_1] Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.4%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious. Every market is different. Before you renew your lease again, […]
75% of Renters Have Been Misinformed
[ad_1] Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home. In […]
Are You Spending TOO Much on Rent?
[ad_1] Chances are if you are renting you are spending too much of your income on your monthly housing expense. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their rent or mortgage payment. This percentage allows the household to save money for the future while comfortably […]
Housing Is Still Affordable in the United States!
[ad_1] Lately, there have been many headlines circulating about whether or not there is an “affordability issue forming in the housing market.” If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you’re seeing in the news, let’s look […]
The True Cost of NOT Owning Your Home
[ad_1] Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence. Realtor.com reported that: “Buying remains the more attractive option in the long term – that remains […]
Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC]
[ad_1] Some Highlights: According to a study by GOBankingRates, it is cheaper to buy a home than rent in 38 states across the country. In six states the difference between buying & renting would account for less than a $50 monthly difference, leaving the choice up to the individual family. Nationwide, it is now 26.3% […]
Homeownership is a Dominant Gene
[ad_1] There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents. Children are More Likely to Own a Home if Their Parents Did According to an analysis of millennial homeowners, the homeownership rate of […]
Rents Are on The Rise: Don’t Get Caught in The Rental Trap!
[ad_1] There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage. Don’t Become Trapped A recent article by Apartment List addressed rising rents by stating: “Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month […]