Homeownership Is an Investment in Your Future

There are many people thinking about buying a home, but with everything affecting the [economy](https://www.simplifyingthemarket.com/2022/10/19/should-you-still-buy-a-home-with-the-latest-news-about-inflation/?a=713258-9a8342bcf821027012880bf1d7cccbf7), some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the _Mortgage Bankers Association_ (MBA), [explains](https://edition.cnn.com/2022/11/10/homes/mortgage-rates-november-10/): > ###### _“The desire for homeownership is strong. Many prospective buyers are waiting for the volatility in mortgage rates to subside, as well as for a clearer picture of the economic outlook.”_ If you’re in that position, remember that it’s important to consider not just what’s happening today but also what [benefits](https://www.simplifyingthemarket.com/2022/11/04/homeownership-wins-over-time-infographic/?a=713258-9a8342bcf821027012880bf1d7cccbf7) you may gain in the long run. There’s a lot of information out there about how homeownership helps build a homeowner’s net worth over time. But even today, many people think first about things like 401(k)s before they think of owning a home as a wealth-building tool. It’s especially important if you’re a young prospective homebuyer to understand how homeownership is another key way to invest in your future. An article from _Bloomberg_ [notes](https://www.bloomberg.com/opinion/articles/2022-11-11/it-s-ok-to-save-for-a-house-down-payment-at-the-expense-of-retirement?=true&sref=BRvilyBN): > ###### _“Millennials have higher average 401(k) balances than Generation X did when they were the same age, but they’re not any better off financially. . . . A lot of that has to do with being less likely to own a home.”_ To help you understand just how much owning a home can have a positive impact on your life over the years, take a look at what the data shows. The same _Bloomberg_ [article](https://www.bloomberg.com/opinion/articles/2022-11-11/it-s-ok-to-save-for-a-house-down-payment-at-the-expense-of-retirement?=true&sref=BRvilyBN) helps show the gap in wealth between renters and homeowners who are 65 years and older (_see graph below_). [](https://files.simplifyingthemarket.com/wp-content/uploads/2022/12/07164903/the-wealth-disparity-for-older-americans-MEM.jpg?a=713258-9a8342bcf821027012880bf1d7cccbf7) So, if you want to create wealth to help set you up for success later on, it may be time to prioritize homeownership. That’s because, whether you decide to rent or buy a home, you’ll have a monthly housing expense either way. The question is: are you going to invest in yourself and your future, or will you help someone else (your landlord) increase their wealth? ### Bottom Line Before putting your homeownership plans on hold, let’s connect to go over your options. That way, you’ll have expert advice on how to make the best decision right now and the best investment in your future. Posted by [Ryan Drowne](https://www.thedavidgreengroup.com/blog/author/ryandrowne/) on December 8th, 2022 Enjoy this blog post? Click here to subscribe for updates [Facebook Share this post on Facebook](https://www.thedavidgreengroup.com/blog/httpswwwsimplifyingthemarketcomen20221208homeownership-is-an-investment-in-your-futurea713258-9a8342.html# "Share this post on Facebook") Twitter Tweet this post on Twitter [Email Send a link to post via Email](mailto:?subject=Homeownership%20Is%20an%20Investment%20in%20Your%20Future&body=I%20was%20looking%20at%20https%3A%2F%2Fwww.thedavidgreengroup.com%2Fblog%2F%20and%20I%20thought%20you%20would%20like%20to%20look%20at%20this%20blog%20entry%3A%0D%0Ahttps%3A%2F%2Fwww.thedavidgreengroup.com%2Fblog%2Fhttpswwwsimplifyingthemarketcomen20221208homeownership-is-an-investment-in-your-futurea713258-9a8342.html "Send a link to post via Email")[](https://www.thedavidgreengroup.com/blog/httpswwwsimplifyingthemarketcomen20221208homeownership-is-an-investment-in-your-futurea713258-9a8342/print.html "Opens new window with print ready page") ### Leave A Comment Leave text box empty Full Name\- required Email Address\- required Website Link e.g. yourwebsitename.com Comment\- required Submit Comment Please note that your email address is kept private upon posting. Message us ··· Chatra DG  David Green AS  Alexandra Salmon Ask us anything – we’ll get back to you here or by email. [We run on Chatra](https://chatra.com/?utm_source=logo_f&utm_campaign=US_www.thedavidgreengroup.com&utm_medium=selfie_en_get) reCAPTCHA Recaptcha requires verification. [Privacy](https://www.google.com/intl/en/policies/privacy/) - [Terms](https://www.google.com/intl/en/policies/terms/) protected by **reCAPTCHA** [Privacy](https://www.google.com/intl/en/policies/privacy/) - [Terms](https://www.google.com/intl/en/policies/terms/)