Tuesday, December 20, 2022 / by Ameil Gill
If your currently renting and having dreams of owing your own home. It may be a good time to think about your next move. With rent costs rising annually at an aggressive pace, and many helpful down payment assistance programs available (and with rates still being at significant lows from years before) homeownership may be closer to reality than you think!
Despite the risk of volatility in the housing market, numerous studies have demonstrated that homeownership leads to greater wealth accumulation when compared with renting. This is due to the fact that renters don’t capture the wealth generated by appreciation, or growing equity that comes from monthly mortgage payments, which become a form of forced savings for homeowners.
Whether you rent or own, you have to cover someone’s mortgage costs — you may as well be doing so to build your own wealth, rather than that of your landlord.
Send me a message and I’ll help you form a plan to get out of the rental race and into homeownership!? Let’s get to work investing in your future through wealth in homeownership.