How Do I Start Building Wealth With My First Home?

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Real Estate Wealth

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Home Ownership: The First Step to Generational Wealth

The first step building wealth that lasts for generations is to own your primary residence. Have you ever considered how much you pay in rent over an extended period? It is probably a lot more than you realize. The amount you spend on rent could be applied toward owning your primary residence, not only building equity in your own property, but also potentially taking advantage of tax benefits related to home ownership.

Equity and Appreciation

Most people make a monthly payment for opportunity to live in their primary residence. When you own your home, the portion of the monthly payment you make, in the form of mortgage payment, is used to pay down the principal on your loan. Each payment you make builds more equity contributes directly to your personal wealth. Conversely, payments you make in the form of Rent, are paid to the landlord, and you do not see any benefit in the form of equity in the home.

In addition, history has shown home values have appreciated approximately 4%. Homeowners benefit from the increasing value of the home, whereas renters do not.

As you can see from the illustration over the course of 30 years, the difference in wealth is staggering.

"They say the best time to plant a tree was 20 years ago. The next best time is NOW. So what are you waiting for?"

*Please Note: Comparison is for illustration purposes only and subject to change.

Other Advantages

Owning your primary residence has other advantages as well, including:

Tax Advantages:

Including deductions for mortgage interest and property taxes. *

Inflation Hedge:

Real assets, including real estate, tend to act as a hedge against inflation. As the cost of living rises, the value of real estate often increases, providing a safeguard against the eroding effects of inflation.

Generational Wealth Transfer:

Real estate can be passed down from one generation to the next, allowing wealth to accumulate over time. Through careful estate planning, families can ensure a smooth transfer of real estate assets, providing a solid foundation for the financial well-being of future generations.

*Please seek the advice of a qualified tax advisor or CPA (Certified Public Accountant).

Want to Learn More About Purchasing Your First Home?

Attend a Class

How do I Start Building Wealth With My First Home?

Begin Here

How Do I Build My Investment Portfolio?

Build Wealth

How Do I know If My Investments are Performing?

Asset Performance

How Can I Defer Capital Gains Taxes?

Defer Tax

What Can I Do If My Investments Are A Burden?

The Terrible T's

How I Can Transfer Generational Wealth?

1031 Exchange

Why Trust Sierra Home Transitions?

Do you already know a Real Estate Agent? The answer for most people is Yes. Often there is a family member or close friend who has a real estate license, or even someone you have used in the past.

What we often see is people focusing on the current need to buy or sell their home, and missing out on how the purchase or sale fits into their long-term real estate goals and reacting later in life.

As a Keller Williams (KW) Real Estate planner, our approach to real estate is a bit different. While a Real Estate Agent will focus on the finishing the current transaction a Real Estate Planner helps ensure your current purchase or sale and future decisions you make throughout your lifetime help to achieve your long-term real estate goals.

You will be amazed how a conversation with a KW Certified Real Estate Planner can effect your ability to Build, Protect and Transfer Wealth through real estate.