Triangle Area Real Estate News & Information - Homeowners

The Emotional Benefits of Homeownership

The Emotional Benefits of Homeownership

Are you considering becoming a homeowner? Congratulations! This is one of the biggest financial decisions you can make. You will experience many benefits, including stable housing costs, and building equity, but one thing you may not have considered is the varied emotional benefits of homeownership. Let's outline the emotional benefits that becoming a homeowner holds.

Increased Financial Stability

Mortgages unlike rent are most commonly fixed; in other words your monthly payment will remain unchanged unlike rent which year after year continues to rise as shown in the chart below. Rental prices have been skyrocketing for years. Buying a home with a fixed-rate mortgage gives you the opportunity to…

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Triangle Area Fraud Alert! Beware Homeowner Benefit Agreements

Triangle Area Fraud Alert! Beware Homeowner Benefit Agreements!

Recently My NC Homes was made aware by one of our preferred real estate attorney's and a local Register of Deeds of a worrying practice occurring in North Carolina. We would like to warn our clients, prospective clients, and the public of this practice before they are impacted. Here is what to know about Homeowner Benefit Agreements and what they really mean.

What are Homeowner Benefit Agreements?

As inflation impacts many homeowners there are those who need extra cash and who fall prey to predatory lenders and or real estate firms/brokers offering them quick cash with out any loan documents. A Homeowner Benefit Agreement binds the signer who owns a property to a certain…

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Homeowners and Buyers Consider Climate Change

You can't watch TV or read the news without wondering with rising global temperatures what the impact of weather, storms and droughts can be expected and what the implications are for our homes.

Should I move?

According to a report by Realtor.com, 78% of buyers took incidences of natural disaster into account when choosing where to buy their home. Further, it reported that 34% of existing homeowners have considered selling their houses and moving to a new location because of the changing climate. While we do not need to go into the devastation of the fires in 2021, we know that many of our new transplants from Silicon Valley came here for a combination or reasons including the threat of fires and drought. You cannot completely remove your risk…

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A Homeowner’s Net Worth Is 40x Greater Than a Renter’s

A Homeowners Net Worth Is 40x Greater Than a Renter's

One of the best ways to build your family's financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it's time to start thinking about buying a home, especially when they are so affordable in today's market.

Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps…

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