One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:
“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”
With spring approaching, now’s a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional.
You may be surprised to learn just how much of a homeowner’s net worth actually comes from owning their home. The National Association of Realtors (NAR) shares:
“Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage ”
In other words, home equity does more to build the average household’s wealth than anything else. And according to data from First American, this holds true across different income levels (see graph below):
Source:FirstAmerican
Homeowners are wealthier than renters at every income level, and the majority of homeowner wealth comes from housing for every income category except for the very top earners For example, for the lowest income group, the median net worth of homeowner households is $102,500, but for renter households it’s only $1,500 At the lowest income category, 92 percent of total homeowner net worth is tied to the value of residential property.
One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth
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Design your dream kitchen with our easy-touse kitchen visualizer.
Everybody wants something different from their kitchen, which is why our online interactive design tool allows you to pick various color combinations before you work with a designer– all available to view online.
Whether you’re a new homeowner buying your first kitchen on a budget or you’re splashing out on the family kitchen of your dreams, all the inspiration you need is online.
Plus, our design tool allows you to save your choices and share them with friends and family!
When you call us a personal advisor will review your credit profile to determine how our program will effectively increase your credit scores.
When you call us a personal advisor will review your credit profile to determine how our program will effectively increase your credit scores. Then your dedicated credit coach will provide a customized plan to quickly exceed the minimum credit qualification thresholds of a mortgage.
Bathrooms are one of the most frequently used spaces in a house, and today’s homeowners want a room that makes them feel rejuvenated. Fixr.com's latest bathroom report reveals spending habits, design trends, and top priorities. Overall, 71% of surveyed experts believe that people are willing to spend more on a bathroom remodel in 2023 than they have in previous years. Fifty-two percent believe people will be willing to spend slightly more, while 19% believe people would be willing to pay much more.
The three main reasons behind bathroom remodels in 2023 are aesthetics (52%), improve functionality (52%), and improve home value (48%). Thirty-two percent also mentioned the deterioration of the current space as another reason why people may want to remodel.
Incorporating wood-look and natural materials was voted the biggest bathroom trend in 2023, according to 50% of experts surveyed, while 47% of experts also think that backlit mirrors will be popular. Additionally, patterned tile, textured tile, and wall coverings are thought to be popular by 36% of experts.
When it comes to trends that will be losing popularity this year, glass block used for windows and dividing walls leads the way, according to 60% of experts. Hollywood-style lighting or a row of light bulbs across the mirror is also one of the least popular trends according to 56% of experts.
Color in the bathroom is predicted to be more prevalent this year, with 59% of experts thinking it will be the most popular when used in the shower with shower tiles. Cabinets and wallpaper for the whole bathroom will also be popular, according to 41% of experts.
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Choose from a FREE Video Doorbell OR our Benjamin Moore Paint Design Board.
Using your cell phone, take and upload your picture then tell us your color preferences, take our style quiz, or ask our Designers for their recommendations
Our Designers will create 3-5 initial designs based on your color preferences, then work with you online to create more designs until you find the one you love.
