Homeownership is the largest source of wealth creation in the US, offering financial stability. Buying a house can help increase net worth significantly, with gains of up to $100K. Home equity is the largest financial asset for many households, accounting for 50-70% of their net worth.
In Florida, insurance premiums are drastically increasing due to a crisis, with homeowners paying triple the national average. Reasons for this include roof-replacement scams, large attorneys fees, and hurricanes. Governor DeSantis signed a bill to help keep insurance companies in the state, but it did not address rising costs. Self-insuring is an option, but it…
Palm Beach County offers the Own a Home Opportunity grant program through its Housing Finance Authority for first-time homebuyers. The program provides a second mortgage loan, up to a maximum of $10K, to assist with the down payment. The loan has a 0% interest rate and is only repayable when the home is sold or…
Owning a home is a keystone of wealth… both financial affluence and emotional security.