06/17/2024
I love helping renters become homeowners, and here's a big reason why: Homeownership allows folks to build wealth, no matter their income level.
This quote from a realtor . com article sums it up:
“Homeownership has long been tied to building wealth—and for good reason. Instead of throwing rent money out the window each month, owning a home allows you to build home equity. And over time, equity can turn your mortgage debt into a sizeable asset.”
Think of it this way - if you've paid $1500/mo in rent over 5 years, you've spent $90,000 with no return on your investment. You may have saved on maintenance, but you're not building wealth.
If you or your adult child is renting and want to explore if homeownership might be within reach, I'd love to help start that conversation. Reach out any time!