RE/MAX of Greensboro & PartnersRE/MAX of Greensboro & Partners

Triad Real Estate: Greensboro, High Point, Kernersville, Winston Salem

RE/MAX Partners: 336.854.2400
RE/MAX of Greensboro: 336.854.0500
My Account Login | Register
  • Menu
  • Home
  • Search Homes For Sale
  • Home Valuation
  • Meet Our Agents
  • the Blog
  • Join RE/MAX
  • Contact Us

Experts Agree: Homeownership Provides a Path to Long-Term Wealth

Experts Agree: Homeownership Provides a Path to Long-Term Wealth | Simplifying The Market

A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include:

  • The flexibility to make the space your own
  • The pride homeownership offers
  • The sense of stability

In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time.

And experts agree – the home you own is an important tool for building your net worth. Here’s what many of those experts have to say about building long-term financial stability through homeownership.

According to the National Association of Realtors (NAR):

“Homeowners who purchased a typical single-family existing-home 30 years ago at the median sales price of $103,333 with a 10% down payment loan and who sold the property at the median sales price of $357,700 in 2021 Q2 accumulated housing wealth of $349,258, . . .”

Mark Fleming, Chief Economist at First American, points out that a home is truly a one-of-a-kind asset. It’s the only asset that’s both an investment and a place for you to call your own.

“The major financial advantage of homeownership is the accumulation of equity in the form of house price appreciation. . . . We won’t always have 17% house price appreciation, but we have to take into account the fact that the shelter that you’re owning is an equity-generating or wealth-generating asset.”

Homeowners can leverage the wealth they generate in several ways throughout their life. Tapping into accumulated equity has long been used to pay for the cost of an education, to start a business, or to fund various other expenses. The Joint Center of Housing Studies at Harvard points out:

“. . . by paying down mortgage principal each month and participating in the long-term appreciation of home values, a family can build wealth that can be used for retirement or other needs, including helping the next generation.”

Bottom Line

With home prices expected to continue to appreciate in coming years, homebuyers have an opportunity to start the long-term wealth-building process right now. Let’s connect today if you’re ready to begin your journey on the path to becoming a homeowner.

Content previously posted on Keeping Current Matters

Posted in: First Time Home Buyers, For Buyers, Rent vs. Buy

Quick Home Search

Post navigation

« What’s Causing Today’s Competitive Real Estate Market? [INFOGRAPHIC]
Don’t Wait for a Lower Mortgage Rate – It Could Cost You »

My Account Login

Recent Blog Posts

Home Buyer Guide - Winter 2021

Home Buyer Guide - Winter 2021 Are You Thinking About Buying a Home? The process of buying a home can be overwhelming at times, but you don’t need to go through it alone. You may be wondering … Continue reading...

There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house? While home … Continue reading...

When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing … Continue reading...

Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately … Continue reading...

Search The Blog

Search for:

News, Tips & Advice

  • Around The Home (272)
  • Baby Boomers (6)
  • Buying Myths (90)
  • Chapter 7 Bankruptcy (1)
  • Consumer Tips (1)
  • Credit Scoring (1)
  • Demographics (19)
  • Distressed Properties (23)
  • Down Payments (37)
  • Federal Reserve (29)
  • FHFA (2)
  • Financial Crisis (1)
  • Financial Reports (135)
  • First Time Home Buyers (224)
  • For Buyers (433)
  • For Sellers (354)
  • Foreclosure (1)
  • Foreclosures (25)
  • FSBOs (15)
  • Gen Z (8)
  • Generation X (4)
  • Giving Back (3)
  • Happy Thanksgiving (1)
  • Holidays (11)
  • Home Building Tips (5)
  • Home Buyer Tips (198)
  • Home Buying Tips (1)
  • Home Care (3)
  • Home Decorating (2)
  • Home Financing Tips (4)
  • Home Maintenance (1)
  • Home Mortgage (3)
  • Home Mortgage Tips (134)
  • Home Ownership (2)
  • Home Seller Tips (162)
  • Home Selling Tips (27)
  • Home Tips (1)
  • Home Values (6)
  • Homebuyer Tips (6)
  • Homeowner Tips (7)
  • Housing Analysis (184)
  • Housing Market (18)
  • Housing Market Updates (301)
  • Infographics (111)
  • Interest Rates (125)
  • Investment Properties (1)
  • Just For Fun (2)
  • Luxury Market (11)
  • Market Outlook (148)
  • Millennials (15)
  • Mortagage Tips (5)
  • Mortgage (87)
  • Mortgage Guidelines (19)
  • Mortgage Rates (150)
  • Mortgage Tips (11)
  • Move-Up Buyers (250)
  • New Construction (27)
  • News (74)
  • Personal Finance (26)
  • Pricing (187)
  • Rankings (2)
  • RE/MAX Buyer & Seller Tips (1)
  • RE/MAX of Greensboro (17)
  • Real Estate (309)
  • Real Estate 101 (10)
  • Real Estate Definitions (3)
  • Real Estate Tips (43)
  • Real Estate Trends (2)
  • Rent vs. Buy (45)
  • Selling Myths (59)
  • Selling Your Home (1)
  • Senior Market (6)
  • Short Sales (4)
  • Statistics (2)
  • Taxes (3)
  • The Economy (20)
  • Time-sensitive (14)
  • Uncategorized (12)

Home Buyer Tips

Looking For A Major Lifestyle Change? Consider Buying A ‘Micro’ Home

With the cost of a home on the rise and the concept of being sustainable becoming more popular, many people are considering moving to a smaller home to minimize their impact. It’s important, however, to consider what living small is really like before deciding that it’s the right move for you.

Around The Home

The Basic Home Security Checklist Every Home Needs

Did you realize that only around 17 percent of the homes in the United States have a security system? Leaving your residence unprotected can come back to haunt you in the future.

Home Seller Tips

Selling Your Home FHA? Learn These Tips To Ensure A Smooth Closing

Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property. While their standards aren’t as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing.

© 2022 · Greensboro Real Estate Inc. dba RE/MAX of Greensboro & RE/MAX Partners

Terms of Use | Privacy Policy | *Affiliated Business Notice

Each Office Independently Owned and Operated.
Greensboro Real Estate Inc Supports Equal Housing Opportunity
*Affiliated Business Notice

Click for the BBB Business Review of this Real Estate in Greensboro NC
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok