Home ownership is a long established American ideal; it is no different in Tampa, Lakeland, or the whole Central Florida area. Not only does home ownership give you a way to build equity, but it is also a place to raise a family and to have a sense of belonging. These two goals have long been a driver in the nation’s financial bedrock, and it is no different in 2019.
As time passes, and homeowners regularly make mortgage payments, the home eventually becomes truly theirs. This increase in net worth is invaluable as the homeowners near retirement age. Renters of the same age have been shown in studies they have 50% less net worth than homeowners. It is through home equity that most people grow their net worth.
It’s essential for renters to become focused on transitioning from paying rent every month to home ownership. It is not an impossible task to achieve as discussed in this previous post. It ultimately benefits the renter to break out of the cycle of renting. Rent costs have been climbing steadily for the last several years, putting rent on par with the cost of a mortgage payment, and in some areas of Central Florida, less than a mortgage payment.
When it comes to home ownership versus renting in 2019, there is no comparison. The concept of homeowners giving someone else their hard-earned money instead of putting it towards their future is one that cannot be sustained.
If you are in the greater Central Florida area and are tired of renting and not building your net worth, the Fluxx Funding can help you reach your goal of home ownership. Call me at 813-915-6649 or email at [email protected] today. Take the first step to owning a home!
