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Financial Wealth & Home Ownership Go Hand in Hand.

October 9, 2019 by Tammy DeLeon Leave a Comment

Homeownership is the Top Contributor to Your Net Worth

Homeownership is the Top Contributor to Your Net Worth | MyKCM

Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth,

“The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below):

Homeownership is the Top Contributor to Your Net Worth | MyKCM

This does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea,

 “Net worth is an important indicator of economic well-being and provides insights into a household’s economic health.”

Homeownership is the Top Contributor to Your Net Worth | MyKCM

Having equity in your home can help your family move in that direction, building toward substantial financial growth. According to the report noted above, people are not only creating net worth in the homes they live in, but many are also earning equity in rental property investments too. (See below):John Paulson said it well,

“If you don’t own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”

Bottom Line

There are financial and non-financial benefits to owning a home. If you would like to increase your net worth, let’s get together so you can learn all the benefits of becoming a homeowner.

Filed Under: Real Estate

About Tammy DeLeon

I have lived in Corvallis for 30 years and raised my 3 boys here. I am married to a retired veteran, who treats me like a queen.
We love being close to the coast, the mountains and the big city life of Portland. We love the outdoors and enjoy hiking and camping with our family and friends.
My combined 15 years of building new construction homes and being a real estate professional, along with being a long-time business owner gives me the personal and professional skills to confidently guide my clients through each transaction.
The process of buying or selling a house can seem overwhelming and intimidating. It is my goal to simplify the process through exceptional communication, education and walking with you from finding a lender to handing over the keys to your new home.
I specialize in helping veterans buy homes with no down payment, retirees sell and downsize and help buyers go from renting to owning.

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