Rebuilding Family Wealth
Since 2008 some of those that were hit hard by the financial crisis have repaired their credit and are ready to take on homeownership again to begin rebuilding their family wealth.
Many of you are understandably trepidatious about tying up your family’s money and time in real estate again. However, homeownership is still the best path to building personal wealth. The trick now is using the lessons of the past to avoid another disaster, and to remember a few key points:
- Buying a home is often the biggest financial decision that any family will make.
- The average net worth of a homeowner is 45x greater than that of a renter.
- Homeownership puts your housing costs to work for you.