Every three years, a Survey of Consumer Finances is conducted by the Federal Reserve that collects data across all economic and social groups. In the most recent survey, including information from 2010-2013, a homeowner's net worth was found to be 36x greater than that of a renter's. However, the National Association of Realtors' Chief Economist Lawrence Yun predicts that this gap will become even wider, and a homeowner's net worth will be 45x greater than a renter's in 2016. This is one way that buying your dream home in Greenwood could prove to be hugely beneficial to you.
This huge gap in net worth is due to the fact that every time a homeowner pays their mortgage, they are contributing to their net worth. Conversely, every time a renter pays their rent, they are contributing to the net worth of their landlord. If you are interested in finding out if you can put your housing cost to work in your favor by purchasing a Greenwood home, please do not hesitate to contact us to discuss your next steps at (864) 341-7774 or lakegreenwoodproperty@gmail.com .
