As we have told you there are numerous benefits to owning your own home, but in the big scheme of it all the wealth that a home can build and the security of a home are very important things that you can one day pass on to the next generation.
In 2018, the typical homeowner accumulated $9,500. Whereas a recent report from the Joint Center for Housing Studies at Harvard University revealed that a renter 65 years old or older has a net worth of $6,710. Meanwhile, a homeowner 65+ years old has a net worth of $319,200.
Later on in Life, Wealth is Crucial
Wealth is important for you to retire, it is also important to end of life care, funeral costs, debt that you don’t want your children to incur. Homeownership allows families better options for their lives, throughout all the stages of their lives.
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