Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.
Thinking About Buying? Know Your Credit Score
Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process.
Net Worth of Homeowners 44X Greater than Renters
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.
Is Your First Home Within Your Grasp? [INFOGRAPHIC]
![Is Your First Home Within Your Grasp? [INFOGRAPHIC] | Simplifying the Market](http://d39ah2zlibpm3g.cloudfront.net/wp-content/uploads/2017/04/11133856/FTHB-Demographics-STM.jpg)
Some Highlights:
- ‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau.
- According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old.
- More and more ‘Old Millennials’ (25-36 year olds) are realizing that homeownership is within their reach now!
Source: KCM