A survey by The Joint Center of Housing Studies at Harvard University reveals that when a family is buying a home they consider the financial benefits of homeownership along with the social benefits.
The survey mentions things like:
- Paying rent does not make sense
- Homeownership provides a good financial opportunity
- Owning a home helps you building family wealth
- Buying a home is investing in your retirement
- Home equity gives you something to borrow against
So how did homeownership match up against other investments in 2015?
Here is a chart that compares its return on investment against precious metals and the stock market last year:
Not only does homeownership offer all its social benefits - owning a home also is a great investment financially.
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Jim Starwalt, Broker Owner
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Buying a Grayslake Home in 2016