The Big Difference Between a Homeowner’s and a Renter’s Net Worth

In this Article...

In Charleston, South Carolina, understanding the financial disparity between homeowners and renters is crucial. Homeownership is a powerful wealth-building tool, with homeowners typically enjoying a net worth nearly 40 times greater than renters. As property values rise and mortgages are paid down, equity—and net worth—grows. For those considering this step, consulting with Charleston Home can provide valuable guidance tailored to your needs.

The Big Difference Between a Homeowner’s and a Renter’s Net Worth

Some Highlights

• Homeownership is one of the best ways to build wealth in our country and it’s easy to see why.
• As you pay down your mortgage and as home values rise over time, you gain equity – and that helps grow your net worth. That’s why a homeowner’s net worth is nearly 40X greater than a renters.
• But you should only buy a home when you’re ready and able to do it. If you want to build a plan to get there, connect with a local agent.​