If you've been watching the Grand Forks market from the sidelines, here's what you need to know heading into summer: this market is not cooling down — it's speeding up.In May 2026, 59 homes
One Major Benefit of Investing in a Home
Dated: February 27 2023
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One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:
“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”
With spring approaching, now’s a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional.
The Largest Part of Most Homeowners’ Net Worth Is Their Equity
You may be surprised to learn just how much of a homeowner’s net worth actually comes from owning their home. The National Association of Realtors (NAR) shares:
“Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families. Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”
In other words, home equity does more to build the average household’s wealth than anything else. And according to data from First American, this holds true across different income levels (see graph below):
Bottom Line
One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect today so you can start investing in homeownership.
Josh Steinke
In the dynamic world of real estate in Grand Forks, North Dakota, Josh Steinke stands out as a realtor with a deep connection to the community and a profound understanding of the local property market....
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Tax and special assessment figures are provided by the listing companies and are usually from the most recent tax bill, but buyer should verify amounts with appropriate governmental departments for accuracy and future estimates. New construction listings often have incomplete or no information on tax or special assessment estimates provided by listing companies, so they must be verified. Figures do not reflect any pending, proposed, or future special assessments which may be levied by governmental
Grand Forks Board of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
