The U.S. Federal Reserve says Lakeville, MN homeownership can help you get it. Every three years, the Fed puts out a report to get a read on consumer finances. Here are some findings from the 2013 Federal Reserve Survey of Consumer Finance:
- The net worth of the typical homeowner has ranged between 31 and 46 times that of the net worth of the typical renter for the past 15 years (1998-2013)
- Homeowner equity is a substantial component of homeowner wealth
- In 2013, homeowners with a $170,000 median value home had nearly $200,000 in net worth compared to a $5,000 net worth for comparable demographic renters
- The 2013 survey showed homeowner net worth to be 36 times that of renter net worth
You may think, "More net worth sounds great, but I don't have enough right now to buy a Lakeville, MN home!" Just about every Lakeville, MN homeowner felt that way at some point when they were still renting. The great news is, everyone needs to prepare and take some time and steps to be able to qualify to buy a Lakeville, MN home and the sooner you get started, the better off you'll be. We help people just like you get ready and in position to buy Lakeville, MN homes - we're here for you too!
At the end of the day, your housing dollars are paying somebody's mortgage...why not make sure it's yours?
Take the first steps today by contacting us at email@example.com or 952.223.0999 to get started on your path to increased net worth!