Homeownership as a Wealth Building Tool

Read that red circle again... "On average, homeowners have 40x the net worth of renters." !!! Forty times!! Most anyone would want to get on the right side of that statistic! But, homeownership can feel out of reach for many due largely to student loan debt and rising home prices. In 2023, 54% of millennials received help with the down payment on their home from family or friends. What an amazing gift to receive and to be able to help a loved one get started on their wealth building journey! We are seeing this trend a lot these days. There are also several first time homebuyer programs that offer helpful options for people just starting out on their homeownership journey with lower incomes. Check out these statistics below, the housing market is improving in many ways and we are looking forward to a healthy summer and fall real estate market here in Richmond, Virginia!

I am always looking out for you and keeping you informed! Please don't hesitate to reach out if you have any questions about where things are going in your neighborhood. If you want to take advantage of this unique market, let's have a conversation about your real estate goals. And the best compliment I could ever receive is for you to send another wonderful client my way. I am always here for you and the people you care about!