Owning a home is a hallmark of the American Dream as well as one of the best ways to build wealth. In fact, the average homeowner has 40x the net worth of renters and $299,000 in equity.
Many younger generations, however, feel this is a dream out of reach. But what if there was a way you could help those in your family get on the ladder to homeownership? By tapping into your equity and offering them a gift, loan, lease or trust to buy their own home you can help them start creating their own generational wealth and a brighter future.
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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of April 2024. Click HERE to see the full detailed report.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale
A hallmark of the American Dream is to own your own home. But half of Americans, especially millennials, don’t believe that goal is in reach. That sentiment might be true in your family as well. But what if there was a way you could change that story?
Tapping into home equity to help a family member buy their first home sets them up for a brighter future and gives them a head start on the path to their own generational wealth. Helping loved ones now means you get to enjoy the gift in action rather than hope an inheritance is used the right way. If you are just starting out on the real estate journey, check out some steps in this month’s piece you can take to begin building your own generational wealth. And please reach out to us if there is anything we can help you with! |
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