Planning for the future is just as important as taking action for one’s present needs. Life brings about various changes and challenges and having a backup plan, asset, or solid ground is necessary for weathering those phenomena better. When it comes to preparing for the future, generational wealth is a benefit of homeownership. A crucial part of generational wealth is real estate. Here’s how a customizable home can be a significant asset.
Customizable Homes for Today
A customizable home appeals to the young family, the growing family, and retirees alike. No matter who you are, a customizable home has numerous advantages and perks. Who doesn’t want a home that suits one’s needs and preferences to a tee? A brand new, customized home is low-maintenance, set in a prime location, and is just as affordable as other homes. Ameri-Star Homes offers customizable homes throughout central Maryland starting at the upper $300s. With many floor plans from which to choose, there is an option for everyone with flexible room for changes. Contact Ameri-Star Homes for more information on their “Buy Wise, We Customize” program.
The Aid of Generational Wealth
While a customizable home brings the dream of a lifetime to life for many homeowners, it also can play a significant role in fostering generational wealth. This type of wealth allows one to utilize and build upon wealth from previous generations, whether that means selling assets or continuing to use them.
Sadly, researchers have estimated that the second generation loses about 70% of the first generation’s wealth, and the third loses 90% more of it. This fact is due to a combination of factors, mainly that the latter generations don’t know how to build it.
With real estate, one can either continue to live in that already-paid-for house or sell it after years of appreciation. It’s a win-win situation. The house can also become a rental that can help build the descendant’s funds.
Rent versus Owning
Recent studies have found that the average homeowner has over 40 times the net worth of a renter. Net worth is defined as the difference between your assets and liabilities. By way of example, if a renter had $5,000 in net worth, the homeowner might have over $200,000 in net worth by comparison. How does that happen? It occurs with equity generated in home ownership in two main ways. First with each month’s payment you are reducing your loan balance which eventually can be zero, Then you enjoy the appreciation over the long run which is a return on your investment in the new home, an increase in value.
Let Ameri-Star Homes Build Your New Custom Home!
Ameri-Star Homes was built on the idea that a home is not complete until the homeowner is 100% satisfied. That’s right, completely satisfied homeowners. Whether you want a home built on one of our home sites or on your own land, count on the same high quality from Ameri-Star. We have set out to exceed all your expectations of integrity, affordability, and customer satisfaction. Build lasting memories for years to come with Ameri-Star Homes.