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A Key To Building Wealth Is Homeownership

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The link between financial security and homeownership is especially important today as inflation rises. 

But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says:

“Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.”

Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal.

Owning a Home Is a Building Block for Financial Success

A recent NAR report details several homeownership trends and statistics, including the difference in net worth between homeowners and renters. It finds “.the net worth of a homeowner was about $300,000 while that of a renter’s was $8,000 in 2021.”

To put that into perspective, the average homeowner’s net worth is roughly 40 times that of a renter 

The results from this report show that owning a home is a key piece to the puzzle when building your overall net worth.

Equity Gains Can Substantially Boost a Homeowner’s Net Worth

The net worth gap between owners and renters exists in large part because homeowners build equity. As a homeowner, your equity grows as your home appreciates in value and you make your mortgage payments each month.

In other words, when you own your home, you have the benefit of your mortgage payment acting as a contribution to a forced savings account. And when you sell, any equity you’ve built up comes back to you. As a renter, you’ll never see a return on the money you pay out in rent every month.

To sum it up, NAR says it simply:

“Homeownership has always been an important way to build wealth.”

Bottom Line

The gap between a homeowner’s net worth and a renter’s shows how truly foundational homeownership is to wealth-building. If you’re ready to start on your journey to homeownership, talk with a trusted real estate advisor today.

Keep reading.

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5 Kid-Friendly Spots for Water Play in Central Oregon

 
 

That big orb in the sky is heating up, and more sunshine means it’s time to find a place to splash around and cool off.

Central Oregon’s high-desert lakes and rivers and crisp mountain air are ideal family-friendly escapes for boating, paddling or just hopping in for a swim. Here are several spots to explore during the warmer months.

Boating in Prineville

About an hour east of Bend, Prineville Reservoir State Park is an oasis in the desert, a 15-mile-long lake filled with water flowing from the Ochoco Mountain Range. If you’ve been meaning to teach the kids a motorized water sport, such as water skiing or wakeboarding, this is a great place to do it, with plenty of visibility and room to roam. Paddleboarding and kayaking are also popular; check out the rentals and beginning stand-up paddleboard classes offered by Ochoco SUP in Prineville and other local shops.

Paddling the Deschutes

Want to paddle the Deschutes River but don’t have equipment? No worries — Tumalo Creek Kayak & Canoe and other outfitters in and around Bend offer gear rentals for adventure-seekers here. While the part of the Deschutes in the middle of Bend tends to get extremely crowded in the summer, a quieter spot to paddle is at LaPine State Park, situated in a tranquil bend of the river, about 30 miles south of the city. Grab your favorite floaty tube, sunscreen, hat, life jacket and make a day of it. Make sure to take Bend’s Visit Like a Local pledge.

Splashing around in Redmond

This free, easy-access splash feature at Centennial Park in Redmond is a hit with kids in the warmer months. Jumping in and out of the rhythmic jets makes for easy and quick entertainment without the hassle of gear or crowded parking lots, and lets the kids get the wiggles out (don’t forget a towel and change of clothes). Pro tip: Down the street is the beloved community Fireman’s Pond, which is stocked with fish by the Redmond Fire Department. Kids 14 and under may fish for free.

Trout fishing at East Lake

Bring a small boat, paddleboard, kayak or canoe to East Lake, a hot spot for trout fishing in Oregon. Fifty miles south of Bend, it’s one of the twin lakes (along with the more crowded Paulina Lake) in the caldera of Newberry National Volcanic Monument — the state’s largest ice-age volcano. Fed by snowmelt and underground springs, the crystal-clear lake and its sandy shores and wooded shoreline are perfect for picnics. Remember to be mindful of the ecology and wildlife, and pack out everything you bring in. 

Floating around in Sisters

Rent a boat, stand-up paddleboard, canoe or kayak at Suttle Lodge (available late May) and enjoy easy access to Suttle Lake from the dock, which is also a glorious place to enjoy an ice cream or the fish n’ chips sandwich at the lodge’s restaurant. Get your feet moving after a lazy morning along the flat, wooded 3.6-mile trail around the perimeter of the lake. The loop trail is also great for singletrack bike riders of all skill levels, so remember to share the trail with all users. Stay at one of the lodge’s family rooms, cabins or vacation homes, or book a tent at one of three seasonal campgrounds on the lake: Link Creek, Blue Bay or South Shore and spend several days splashing around.

Honorable mentions go to kayak touring at Lake Billy Chinook while camping at The Cove Palisades Park in Madras; whitewater rafting in Maupin; and playing in the splash-tastic waterfalls of the Paulina Plunge near La Pine. 

Find more activities like this on Travel Oregon.

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Just Listed: River Canyon Estates Home with Expansive Primary Suite

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Set down your roots in beautiful River Canyon Estates, one of Bends premiere SW neighborhoods.

This community has it all. A pool for those hot summers, easy access to the Deschutes River trail system, a quick bike ride to the old mill, and is surrounded by parks and walking trails. This house sets itself apart with a large primary suite that includes a oversized bathroom and dressing room. With a great layout, this is a lovingly maintained home that has ample storage, and a beautifully landscaped easy to maintain yard.

Listed by Ricky Baker for West + Main Homes. Please contact Ricky for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
westandmain.co
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(503) 449-4422
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Just Listed: Craftsman Style Home in Northwest Bend

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This craftsman style home is located in prime Northwest Bend minutes from the Deschutes River and all that Westside Bend has to offer.

Upon entering the home, you will be greeted by grand tall ceilings and real wood flooring. Their is a loft/office area located on the 3rd floor. The private primary suite features a gas fireplace, large closet, tile shower, double vanity and soaking tub. With over 2818 SF, this home offers solid core stained doors and trim throughout, stunning kitchen cabinetry, a New LG smart fridge, 6 Burner 48 inch Viking Range and Range hood, Built in cabinetry in the living room, many large windows that bring in tons of natural light, two 2nd story patios, lots of storage, New Garage Door, New Heat Pump, AC, Central Vacuum System, and a Laundry Chute. The exterior was masterfully crafted with the stunning wood accent wall on the front of the house! There is a 3 car garage and a large brick driveway that can fit up to 4 cars or an RV.

Listed by Jenna Jacobsen for West + Main Homes. Please contact Jenna for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
westandmain.co
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Jenna Jacobsen
541-419-5788
jenna@westandmainoregon.com

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Just Listed: Beautifully Maintained Home in Sunpointe

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Welcome home to Sunpointe! This beautifully maintained, single level home is the perfect place to relax, entertain, and enjoy all the things you love about in Bend!

Start the day with a cup of coffee on your peaceful front porch, or head inside and cozy up next to the fireplace in the living room. Your open concept kitchen provides the perfect space to entertain, with your guests gathered around the table while you whip up drinks and appetizers. There’s plenty of space in this 3 bedroom, 2 bath home to set up your perfect work-from-home office, and on those sunny Oregon days you can head outside with your laptop to your peaceful, private back patio. When the day is done, retire to your large primary suite where you’ll find an en suite bathroom(with double vanities!) and loads of closet space. Conveniently located next to schools, restaurants, shopping, and more, your next adventure is never far. You’re going to LOVE living here.

Listed by Crystal Brae for West + Main Homes. Please contact Crystal for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
westandmain.co
hello@westandmainoregon.com

Presented by:
Crystal Brae
541-350-217
crystal@westandmainoregon.com

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