In this Article...
In Charleston, the decision between renting and buying a home can significantly impact your financial future. According to Charlotte Lemon, a Realtor at Charleston Home, homeowners typically see a net worth nearly 40 times greater than that of renters, thanks to equity gains and rising home values.
The Big Difference Between Renter and Homeowner Net Worth
Some Highlights
- If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership.
- Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s.
- Connect with an agent if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.
