A survey by The Joint Center of Housing Studies at Harvard University reveals that when a family is buying a home they consider the financial benefits of homeownership along with the social benefits. The survey mentions things like:
- Paying rent does not make sense
- Homeownership provides a good financial opportunity
- Owning a home helps you building family wealth
- Buying a home is investing in your retirement
- Home equity gives you something to borrow against
So how did homeownership match up against other investments in 2015? Here is a chart that compares its return on investment against precious metals and the stock market last year:
Bottom Line
Not only did homeownership offer all its social benefits. It also was a great investment financially.