Increase your family’s net worth

A recent study from the Survey of Consumer Financing revealed that the net worth of a homeowner is over 44 times greater than that of a renter.

I know I sound redundant when I bring up the topic of buying versus renting, but I am going to mention it again. Everyone should realize that unless you are living somewhere rent-free, you are paying a mortgage – either yours or your landlord’s. Buying your own home provides you with a form of ‘forced savings’ that allows you to use your monthly housing costs to increase your family’s wealth.

In other words, every month that you pay your mortgage, you are paying off a portion of the debt that you took on to purchase your home. Therefore, you own a little bit more of your home every month in the form of home equity. As your home’s value increases you also gain home equity.

The Financing study also revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

That is why Gallup reported that Americans picked real estate as the best long-term investment for the fifth year in a row. According to this year’s results, 34% of Americans chose real estate. Stocks followed at 26%, and then gold, savings accounts/CDs, or bonds.

I know what some of you may be thinking, not everyone has the ability to buy and there is a myriad of reasons why it may not make sense for some. And I agree. My general rule of thumb is, if you have the down payment for the property you want to buy and you plan to live there for at least 3 years it probably makes sense. Here is a great online calculator to help you figure things out.

Reach out to me to discuss your specific situation.

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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20 Questions with Unit Realty Group Agent Corey Wade

Corey Wade: Q&A

Unit Realty Group_Corey Wade

  1. Describe your dream home? The house itself is less important to me than there being a plethora of natural light and a huuuuuuge yard. Ideally in the mountains somewhere. When I say huge yard, I think I just mean huge mountain
  2. What is your Starbucks order? Venti Cold Brew, black. However, I’m more of a Dunkin’ guy these days
  3. Hometown? Scottsdale, AZ
  4. Favorite neighborhood? I’ve gone through several different phases, but I’d say financial district on the weekend during the non-tourist season. It can sometimes feel like you have the city to yourself, which is both eerie and magical at the same time
  5. Adult beverage? Bud light
  6. Most used emoji? It’s probably a tie between the clenched teeth emoji 😁 and the bicep emoji 💪
  7. Favorite room in the house? Whichever room has the most natural light! In my current case, the living room
  8. Favorite park? Boston Common
  9. Charity of choice? Greater Boston Food Bank
  10. Morning routine? Wake up, meditate, coffee, email, foooood. Usually more or less in that order
  11. Fixer upper or turn key? Depends…Fixer upper can be more rewarding, but it can also be a major pain in the a**
  12. Favorite city activity? Exploring by foot. Kayaking in the Charles River is pretty great too
  13. Favorite local shop? Mr. Music in Allston
  14. RedSox, Bruins, Celtics or Patriots? Celtics
  15. Cat or dog? I love both! However, I am a cat owner, so…
  16. Favorite restaurant? Really hard to pick a favorite, but Max and Leo’s Pizza in Newton Corner is probably my current fave
  17. Favorite season? Summah
  18. Guilty pleasure? John Mayer
  19. Favorite candy? I’m actually not really a candy eater, but I used to love SweeTarts as a kid
  20. Favorite color? Green

Click over to our agent page to read Corey’s full bio.

20 Questions with Unit Realty Group Agent Jon Kendall

Jon Kendall: Q&A

Unit Realty Group_Jon Kendall

  1. Describe your dream home? Ocean front or ocean views
  2. What is your Starbucks order? Latte (no sugar)
  3. Hometown? Worcester
  4. Favorite neighborhood? North End, locally. Old Port Portland, further away
  5. Adult beverage? Hoppy Microbrew
  6. Most used emoji? 👍
  7. Favorite room in the house? Kitchen
  8. Favorite park? Public Garden
  9. Charity of choice? GBFB
  10. Morning routine? Coffee then drive to work
  11. Fixer upper or turn key? Fixer upper
  12. Favorite city activity? Taking the T
  13. Favorite local shop? The 7s
  14. RedSox, Bruins, Celtics or Patriots? Patriots
  15. Cat or dog? Dog
  16. Favorite restaurant? Artu
  17. Favorite season? Fall
  18. Guilty pleasure? Watching cult 80’s movies
  19. Favorite candy? Reese’s
  20. Favorite color? Red

Click over to our agent page to read Jon’s full bio.