The Jersey Shore by Karl Hess

Home Owners Have a Higher Net Worth

The net worth of a homeowner is 44x greater than a renter!

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released.

Search for Homes in Ocean County

The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

Ocean County First Time Home Buyer Program

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fifth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Greater equity in your home gives you options - What's Your Ocean County Home Worth?

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process.

Karl Hess & Keller Williams Shore Properties provides expert real estate services to residential buyers and sellers in Ocean County. Contact us today for more information on Ocean County Real Estate and for professional assistance navigating this complex home market.

As always, thank you for your time and feel free to get in touch if you have any questions. Karl Hess, Keller Williams Shore Properties - #1 Real Estate Office in Ocean County

 

 

 609-553-7926

Find Your Dream Home on The Jersey Shore in Ocean County!

www.TheJerseyShoreHomeFinder.com

 

 Licensed in New Jersey.  Keller Williams Shore Properties 

1400 Hooper Ave. Toms River NJ 08753 Phone: 732-797-9001

 

 

 

Comment balloon 0 commentsKarl Hess • October 16 2018 12:56PM
Home Owners Have a Higher Net Worth
share
The net worth of a homeowner is 44x greater than a renter! Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013… more
Know the Lingo of Home Buying in Manahawkin
share
Buying a home in Manahawkin can be puzzling if you don’t understand the lingo. Comprehending the jargon can make the search and transaction run a lot smoother. Search for Manahawkin Homes for Sale Here are some common real estate terms to know when… more
Where Are Mortgage Rates Headed In 2019?
share
The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search… more
What the Heck is PMI and What's the Cost?
share
What is Private Mortgage Insurance (PMI) and What’s The Cost of NOT Paying PMI? Private mortgage insurance, also called PMI, is a type of mortgage insurance you might be required to pay for if you have a conventional loan. Like other kinds of… more
Rent or Buy in Barnegat: Either Way You're Paying A Mortgage
share
There are some people who have not purchased homes in Barnegat because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a… more
The Wave of Millennial Homebuyers Continues to Swell
share
Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream. Comparatively speaking, millennials have taken longer to obtain traditional milestones.. more
The Right Ocean County House for Your Retirement
share
As more and more baby boomers enter retirement age in Ocean County, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up… more
Interest Rates Impact on Buying a Manahawkin Home
share
If you’re thinking about buying a home in Manahawkin, now may be the time to act. According to Freddie Mac’s latest Primary Mortgage Market Survey interest rates for a 30-year fixed rate mortgage are currently at 4. 61%, which is still near… more
Is Home Ownership in Ocean County Within Your Grasp?
share
Buying a home in Ocean County can be a daunting task, but we help educate and guide first time home buyers through every step of the process. Our goal is to make buying a home a simple, fun, exciting, and hassle-free experience. (Did you know that… more
Should I Wait to Buy a Home in Barnegat?
share
What if I wait until next year to buy a Barnegat Home? We recently shared that Barnegat home prices have increased by 25. 42% year to date over 2017. They’ve also increased by 6. 7% year-over-year on a national basis. Over that same time, interest… more