Why Homeownership matters NOW more than EVER

Why Homeownership Matters Now More Than Ever | MyKCM

Study after study shows that no matter what generation Americans belong to, the vast majority believe that homeownership is an important part of their American Dream. The benefits of homeownership can be broken into two main categories: financial and non-financial (often referred to as emotional or social reasons.)

For Americans approaching retirement age, one of the greatest benefits to homeownership is the added net worth they have been able to achieve simply by paying their mortgage!

The Joint Center for Housing Studies at Harvard University focused on homeowners and renters over the age of 65. Their study revealed that the difference in net worth between homeowners and renters at this age group was actually 47.5 times greater, with nearly half their net worth coming from home equity!

Why Homeownership Matters Now More Than Ever | MyKCM

Homeowners over the age of 65 are much more financially prepared for retirement and often own their homes outright if they were fortunate enough to purchase their homes before the age of 36.

Their 30 years of mortgage payments have paid off as they gained equity through their monthly payments and as home values appreciated.

It is no surprise that lifelong renters have had a hard time accruing net worth as the latest Census report shows that the Median Asking Rent has been climbing consistently over the last 30 years.

Bottom Line

Your monthly mortgage payment is a form of ‘forced savings’ building your net worth with every payment!

Think you’re ready to buy? Or no someone that should look into buying? Let’s connect. Give us a call at 703-242-3975 or Email us at info@thebeltteam.com

Check out the latest Northern Virginia Listings Here

4017 Oxford St. Annandale, VA 22003- Listed by The Belt Team

4017 Oxford St

4017 Oxford Street, Annandale, VA 22003 Just Listed by The Belt Team

Welcome home to this lovely cottage in the sought after Englandboro neighborhood just outside of DC on a .9 acre lot! This exquisite property is truly one of a kind featuring 4 bedrooms /3.5 baths & full guest house featuring living room, kitchen, 1 bedroom/ 1 bath! Exceptional details include shining hardwood floors, granite countertops, updated kitchen, recessed lighting, immaculate screened in porch, large deck, and so much more! The outdoor space & floor plan are an entertainers dream come true. The large deck & gorgeous landscaping are ready for you to host your house warming!

Price, lots more photos & additional info 4017 Oxford Street, Annandale, VA 22003

Call Tom Hanton & The Belt Team at (703) 242-3975!

Call The Belt Team at (703) 242-3975 for more info!