TheWaveJune2021

THE WAVE F L O R I D A C R E D I T U N I O N J U N E 2 0 2 1 Buying a home is one of the largest and most exciting purchases many people will make in their lifetime. Beyond being able to call it your own, home ownership comes with other perks that make it a wise personal and financial decision. With June being National Homeownership month, what better time to review the benefits of buying a home? Head Start on BuildingWealth. Did you know homeownership is one of the biggest determinants of household wealth? Statistics show homeowners have a net worth 80 times greater than that of renters. The gap is only growing as rent prices continue to rise, while mortgage rates decline to the lowest they’ve been in more than 30 years. Your House. Your Rules. As Americans, we pride ourselves on our individuality and standing out from the crowd in almost every facet of our lives. Why would it be any different when it comes to the place you spend most of your time? Unique landscaping. Shag carpet. Red front door. GO FOR IT. Owning a home allows you to break free from the cookie cutter mold of renting. The Perks. According to CoreLogic, U.S. homeowners with mortgages saw their home’s equity increase by an average of $26,300 in 2020, making homeownership an effortless method for saving money. Combined with potential tax breaks and the fact that a mortgage payment can be more affordable than rent in most cities, you might just be missing out on free money. If you’ve been hesitating to buy because you’re not sure about the process, we’re here to help! Technology has simplified the journey to homeownership, and it’s no longer the burdensome process it might have once been. Whatever your questions on home ownership, mortgages, and financing, we have answers! Reach our team by phone at 352-264-2649, online at flcu.org/mortgage or visit us in-person at any of our 11 branches. Sources: mortgagenewsdaily.com/08282019_homeownership.asp | corelogic.com/insights-download/homeowner-equity-report.aspx June is National Homeownership Month! Congrats Grads! See our 2021 scholarship recipients on page 2

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