According to recent reports, homeownership remains one of the best ways to protect your finances against inflation, helping you build wealth over time. In 2019, homeowners had a net worth 40 times greater than renters, and this gap is expected to widen even more by the end of 2024.
Unfortunately, as rising home prices and interest rates make affordability a challenge, people are waiting longer to make this investment, with the median age of first-time homebuyers increasing to 38. If you’re ready to take the leap, we’re ready to help!
Source: Median Net Worth from Federal Reserve Survey of Consumer Finance, NAR