![](\"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2023\/07\/20230720-Owning-your-home-helps-you-build-wealth.jpg?w=1220&ssl=1\")
\n![\"Owning](\"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2023\/07\/20230720-Owning-your-home-helps-you-build-wealth.jpg?w=358&ssl=1\")
\nYou may have heard some people say it\u2019s better to rent than buy<\/a> a home right now. But, even today, there are lots of good reasons<\/a> to become a homeowner. One of them is that owning a home is typically viewed as a good long-term investment<\/a> that helps your net worth grow<\/a> over time.<\/p>\n You may be surprised to learn homeowners across various income levels have a much higher net worth than renters who make the same amount. Data from First American<\/em><\/a> helps illustrate this point (see graph below<\/em>):<\/p>\n What makes wealth so much higher for homeowners? A recent article from Realtor.com<\/em> says<\/a>:<\/p>\n \u201cHomeownership has long been tied to building wealth\u2014and for good reason. Instead of throwing rent money out the window each month, <\/em>owning a home allows you to build home equity<\/em><\/strong>. And over time, equity can turn your mortgage debt into a sizeable asset.\u201d<\/em><\/p><\/blockquote>\n Basically, the wealth you accumulate when you own a home has a lot to do with equity. As a homeowner, equity is built up as you pay down your loan and as home prices appreciate<\/a> over time. Mark Fleming, Chief Economist at First American,<\/em> explains<\/a> how this same benefit isn\u2019t true for renters in a recent podcast:<\/p>\n \u201cRenters as non-homeowners gain no wealth benefit as home prices rise. That wealth actually accrues to the landlord.\u201d<\/em><\/p><\/blockquote>\n Before you decide<\/a> to sign another rental agreement, now is a good time to think<\/a> about whether it would be better for you to buy a home<\/a> instead. The best way to figure out what makes sense for you is to have a conversation with a real estate expert you trust. That professional can talk you through the benefits that come with owning to determine if that\u2019s the right next step<\/a> for you.\u00a0<\/p>\n If you\u2019re not sure whether to keep renting or to buy a home<\/a>, know that owning a home, no matter how much money you make, can help build your wealth. Connect with a local real estate agent to get started<\/a> on the path to homeownership.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":" You may have heard some people say it\u2019s better to rent than buy a home right now. But, even today, there are lots of good reasons to become a homeowner. One of them is that owning a home is typically viewed as a good long-term investment that helps your net worth grow over time. Homeownership […]<\/p>\n","protected":false},"author":1,"featured_media":4095,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-4094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2023\/07\/20230720-Owning-your-home-helps-you-build-wealth.jpg?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-142","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/4094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=4094"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/4094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/4095"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=4094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=4094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=4094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Homeownership Builds Wealth Regardless of Income Level<\/strong><\/h4>\n
![](\"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2023\/07\/20230720-Homeowners-Build-Wealth-Across-Incomes.png?w=1220&ssl=1\")
<\/a><\/p>\nBottom Line<\/h3>\n