How Owning a Home Can Give Your Wealth a Boost

Trying to decide between renting and buying? Here’s a key fact to help you choose. 

Every three years, the Federal Reserve reports on homeowner and renter net worth – and the difference may really surprise you. See Graph Below:

One big reason why is home equity. Equity is the difference between your home’s value and what you still owe on your home loan. When you own a home, you build equity by paying off your mortgage and when your home’s value goes up. 

And that equity gives your net worth a big boost. 

So, if you’re debating between buying and renting, know that homeownership is one of the best ways to build wealth over time. 

If owning a home feels out of reach, let’s chat about programs that can help make buying possible. 

The Degelau Team is here for you!

Source: Federal Reserve Board's Survey of Consumer Finances