The GIFT OF OWNERSHIP: Buying a Home

How about giving your significant other (and yourself) a most valuable gift that can pay dividends for a lifetime? And even beyond that, to your children and grandchildren!

Think “Home”! Buying a Home!

The Benefits of Home Ownership would be a great “gift” to yourselves.

As history has proven, real estate ownership has been the road to building wealth for many of the currently wealthy individuals and peoples around the world.

The median net worth of individuals who own their home in the United States as of the end of the last 3 year survey, conducted by the Federal Reserve, was $231,400. This was an increase of 15% from the previous survey conducted in 2013. The median net worth of renters was only $5,200, which was a decrease of 5% from the previous 3 years survey. This clearly shows that the median net worth of homeowners is over 40 times greater than that of renters. Quick question, What group would anyone prefer to be in?

Obviously, there are many different factors impacting the wealth building capacity of individuals, however, it is plainly clear that real estate plays a big part. In addition to the wealth building benefits of home ownership, there is the personal satisfaction of having the ability to “do as you wish” (within reasonable limits, of course) in the confines of your home. You can paint it any color without asking a landlord. You can modify it any way you want (within code, of course). You can nail up clasps to hang up pictures on the wall, whenever and wherever you want. You can plant whatever plants you want, whenever you want, or take out plants whenever you want. That is a lot more FREEDOM of choice than one typically has if one rents a property as opposed to owning it.

This article was written by Nef Cortez who is a licensed Real Estate Broker, Ca BRE # 00560181, licensed since 1976. He can be reached for more information via e-mail at nefcortez@gmail.com, or website www.nefcortez.com. Please feel free to email any questions regarding real estate.