Why homeownership matters (Equity, Taxes, Your Life)

Buying a home is the biggest investment you’ll make in your life. Is it really worth it? Get the inside scoop on how being a homeowner can change your life.
Let's Dive In

Homeownership is a huge decision and investment. Before you fork over your savings for a downpayment and make this decision, it’s important that you truly understand the impact it can have on your life.

The investment: Equity and more

In 2020, about 50 million American adults had a mortgage. Homeownership isn’t about getting into debt. It’s an investment. Here are some stats:

Since 2021

Homeowners have seen a 15.8% increase in equity ($2.2 trillion nationwide).

In Q3 of 2022

Negative equity decreased by 2.2% since the third quarter of 2021.

In Q3 of 2022

The average homeowners in the U.S. gained $34,300 in equity.
The highest percentage increase was in the state of Florida ($77,000).

Key Takeaways

These stats tell us a few things:

  • People who own homes have a chance to earn money in the form of increased equity.
  • Depending on your state, the equity increase of your home could amount to significant earnings that far exceed your downpayment and the cost of homeownership.

A Real Estate professional may be the right person to contact as you calculate the cost and benefits of owning a home.