{"id":7608,"date":"2021-10-11T10:00:48","date_gmt":"2021-10-11T10:00:48","guid":{"rendered":"https:\/\/thezakariagroup.com\/experts-agree-homeownership-provides-a-path-to-long-term-wealth\/"},"modified":"2021-10-11T10:00:48","modified_gmt":"2021-10-11T10:00:48","slug":"experts-agree-homeownership-provides-a-path-to-long-term-wealth","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/experts-agree-homeownership-provides-a-path-to-long-term-wealth\/","title":{"rendered":"Experts Agree: Homeownership Provides a Path to Long-Term Wealth"},"content":{"rendered":"<div>\n<p><img decoding=\"async\" width=\"358\" src=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2021\/10\/06105011\/20211011-KCM-Share-549x300.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Experts Agree: Homeownership Provides a Path to Long-Term Wealth | Simplifying The Market\" loading=\"lazy\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" srcset=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2021\/10\/06105011\/20211011-KCM-Share-549x300.jpg 549w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2021\/10\/06105011\/20211011-KCM-Share.jpg 750w\" sizes=\"(max-width: 549px) 100vw, 549px\"><\/p>\n<p>A recent survey from <a href=\"https:\/\/www.lendingtree.com\/home\/mortgage\/homeownership-renting-survey\/\"><em>LendingTree.com<\/em><\/a> found there are multiple reasons why Americans would choose to purchase a home instead of <a href=\"https:\/\/www.simplifyingthemarket.com\/2021\/06\/18\/owning-a-home-has-distinct-financial-benefits-over-renting-infographic\/\">renting<\/a>. Some of the most popular <a href=\"https:\/\/www.simplifyingthemarket.com\/2021\/05\/03\/americans-find-the-nonfinancial-benefits-of-homeownership-most-valuable\/\">non-financial<\/a> reasons given include:<span id=\"more-45288\"><\/span><\/p>\n<ul>\n<li>The flexibility to make the space your own<\/li>\n<li>The pride homeownership offers<\/li>\n<li>The sense of stability<\/li>\n<\/ul>\n<p>In the same survey, 41% of respondents say they\u2019d rather own a home than rent because of the unique way <strong>homeownership <\/strong><a href=\"https:\/\/www.simplifyingthemarket.com\/2021\/09\/30\/as-home-equity-rises-so-does-your-wealth\/\"><strong>builds wealth<\/strong><\/a><strong> over time.<\/strong><\/p>\n<p>And experts agree \u2013 the home you own is an important tool for building your net worth. <strong>Here\u2019s what many of those experts have to say about building long-term financial stability through homeownership.<\/strong><\/p>\n<p>According to the <a href=\"https:\/\/www.nar.realtor\/blogs\/economists-outlook\/metro-area-wealth-gains-as-of-2021-q2-typical-gain-of-349000-over-30-years\"><em>National Association of Realtors<\/em><\/a> (NAR):<\/p>\n<blockquote>\n<p><em>\u201cHomeowners who purchased a typical single-family existing-home 30 years ago at the median sales price of $103,333 with a 10% down payment loan and who sold the property at the median sales price of $357,700 in 2021 Q2 <strong>accumulated housing wealth of $349,258<\/strong>, . . .<\/em>\u201d<\/p>\n<\/blockquote>\n<p>Mark Fleming, Chief Economist at <a href=\"https:\/\/blog.firstam.com\/economics\/reconomy-podcast-should-you-rent-or-buy\"><em>First American<\/em><\/a>, points out that<strong> a home is truly a one-of-a-kind asset. <\/strong>It\u2019s the only asset that\u2019s both an investment and a place for you to call your own.<\/p>\n<blockquote>\n<p><em>\u201cThe major financial advantage of homeownership is the <strong>accumulation of equity in the form of house price appreciation. <\/strong>. . . We won\u2019t always have 17% house price appreciation, but we have to take into account <strong>the fact that the shelter that you\u2019re owning is an equity-generating or wealth-generating asset.<\/strong>\u201d<\/em><\/p>\n<\/blockquote>\n<p>Homeowners can leverage the wealth they generate in several ways throughout their life. Tapping into accumulated equity has long been used to pay for the cost of an education, to start a business, or to fund various other expenses. The <a href=\"https:\/\/www.jchs.harvard.edu\/blog\/learning-history-homeownership-rate\"><em>Joint Center of Housing Studies<\/em><\/a> at <em>Harvard <\/em>points out:<\/p>\n<blockquote>\n<p><em>\u201c. . . by paying down mortgage principal each month and participating in the long-term appreciation of home values, a family can build wealth that can be <strong>used for retirement or other needs, including helping the next generation.<\/strong>\u201d<\/em><\/p>\n<\/blockquote>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>With home prices expected to continue to appreciate in coming years, homebuyers have an opportunity to start the long-term wealth-building process right now. Let\u2019s connect today if you\u2019re ready to begin your journey on the path to becoming a homeowner.<\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\" rel=\"noopener\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include: The flexibility to make the space your own The pride homeownership offers The sense of stability In the same survey, 41% of respondents say they\u2019d [&hellip;]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Experts Agree: Homeownership Provides a Path to Long-Term Wealth - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/experts-agree-homeownership-provides-a-path-to-long-term-wealth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Experts Agree: Homeownership Provides a Path to Long-Term Wealth - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. 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