Statistics show that homeowners build their wealth higher than the average families. Meanwhile, renters’ net worth stay flat.
If you can afford to buy now, don’t hesitate. Indeed, the combination of higher mortgage rates and high housing prices continues to cut into the purchasing power. However, the sooner you own your home, the faster you can start building your wealth.
Benefits of owning a home: monthly mortgage payment is constant, equity building in time and with each mortgage payment, tax benefits, renting space out to subsidize monthly expenses…not to mention the peace and joy in living in your dream home.
Stephen Haw is a local real estate expert in South Bay and Palos Verdes. Feel free to contact Stephen at (310) 503-9886 for a free consultation. DRE#00808646 Keller Williams Palos Verdes Realty
Call 310.503.9886 or email skh8828(at)gmail(dotted)com for professional guidance from The Stephen Haw Group, your local experts with international connections.