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Category Archives: Wealth Building
Could Rising Home Prices Impact Your Net Worth?
Learn how to determine your current net worth and how an investment in real estate can help improve your bottom line.
Continue reading Could Rising Home Prices Impact Your Net Worth?Homeownership Builds Wealth
If you’re a homeowner in the San Diego area, chances are your house is making you rich. Although there’s no guarantee that homeownership will help you build wealth, the Federal Reserve 2019 Survey of Consumer Finances found that the median homeowner has 40 times the household wealth of a renter. And if you live in the San Diego – Carlsbad area or in several other parts of California, you’ve gained a lot of equity in the last 10 years.
Continue reading Homeownership Builds WealthThe Power of Home Equity
Homeownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make modifications. Neighborhoods with high rates of homeownership have less crime and more civic engagement. Additionally, studies show that homeowners are happier and healthier than renters, and their children do better in school.
But one of the biggest perks of homeownership is the opportunity to build wealth over time. Researchers at the Urban Institute found that homeownership is financially beneficial for most families, and a recent study showed that the median net worth of homeowners can be up to 80 times greater than that of renters in some areas.
So how does purchasing a home help you build wealth? And what steps should you take to maximize the potential of your investment? Find out how to harness the power of home equity for a secure financial future.
Continue reading The Power of Home Equity