June is National Homeownership Month! Here at The Redux Group, we believe that any time is a great opportunity to purchase a home, but June is a particularly good time to remind those who may be considering entering the market of all the benefits that come with having a house to call your own. Here are just a few to consider:
- The average homeowner’s net worth is 44 times that of the average renter.
- The median net worth of homeowners increased 15 percent between 2013 and 2016. In that same time period, the net worth of renters and other non-homeowners fell five percent.
- Purchasing a home and making consistent mortgage payments can greatly improve your credit score.
- Since homeowners are not subject to an outside landlord raising rent or denying renewal of the lease, they are typically seen as more secure and having more control over their living environment.
- Homeowners likely live in neighborhoods with more opportunities for school involvement, neighborhood activities, and civic engagement.
- Homeowners are much less likely to be victims of crime than non-owners.
- Homeownership provides more chances to accumulate both wealth and social capital.
- Homeowners report better physical and psychological health than the average non-owner.
If you are interested in taking the next step and purchasing a house, please give The Redux Group a call at (804) 496-1233. We are experts in buying and selling homes here in the Richmond/Midlothian area, and would love to put our expertise to work for you.