Stuart Hankin is a compelling force in the real estate world. Having had a humble start in a suburb outside Philadelphia, the entrepreneur obtained his Bachelor’s Degree in Operations and Information Engineering from Cornell University in just 3 years.
In 2010, the real estate investor started purchasing and flipping distressed properties in South Florida. Fast forward to 2016, Stuart turned his attention to residential and commercial land to uplift communities, improve the quality of life and increase ownership opportunities for financially distressed families.
Stuart’s precociousness and eye for meticulous detail have taken him far in life. Today, the businessman helps renters sublimate their financial burden by turning to homeownership.
Stuart Hankin Hankin Homes believes that homeownership has distinct advantages over renting, specifically when it comes to growing your wealth and creating a stable environment for the family.
Per the businessman, “What renters don’t often consider is that while buying a home is more expensive at the outset, it’s cheaper than renting long term.”
Stuart Hankin adds, “In fact, one of the most pressing benefits is that it helps build equity. So let’s say you pay 20% down on a home that costs $300,000. This means you would still owe $240,000 and your equity would be $60,000. Now let’s say that home appreciates in value. Guess what? Your equity increases even though the amount you owe does not.”
To Stuart, owning your own home isn’t just an exaggerated extension of the American Dream. On the contrary, it helps families set down strong roots in the community and access financial stability.
Statistics released by the National Association of Realtors show that approximately 5% of homeowners relocate. This is nowhere near as alarming as the whopping 26% of renters that also do so within the same time frame.
Stuart Hankin urges renters to think of the little things, “When you set down roots, not only do you enjoy that crucial stability that comes with a home, but you can count on your neighbours for the little things like feeding your cat or picking up your mail when you’re out of town. These are luxuries closed off to renters given their rapid turnover rates.”
The tide is definitely shifting. A report by real estate website Trulia showed that homeownership is 38% cheaper than renting, based on the traditional 20% down payment and 30-year-fixed-rate mortgage. This can be attributed to the skyrocketing rent rates and the low fixed-rate mortgages which are at about 4.5%.
Homeownership has proven to be the most reliable method to increase one’s net worth even when pitted against other tactics like investing wisely and applying business acumen. Research has shown that housing is the largest asset in the average American’s portfolio, accounting for about 67% of all their assets.
Stuart Hankin Hankin Homes swears by these findings. He advocates that this is the surest way to store wealth and build your bottom line down the road.
In 2019, Stuart completed five new construction projects that earned him incredible repute within industry circles. The real estate developer has received tremendous praise from his peers and clients alike for his sustainability and innovation of design.
Aside from his many business accomplishments, Stuart Hankin is a philanthropist at heart. He devotes a large portion of his time to tutoring kids as part of the Kids Sanctuary program and being actively involved in his local Chabad. Stuart lives with his wife of five years, Britney Linsky, and their three-year-old son, Harry, in Palm Beach Gardens, Florida.
What does the future hold? The entrepreneur plans to use his uncompromising drive to take the real estate market to greater heights. For Stuart, knowledge is power. He is keen on helping buyers and renters improve their knowledge of the market and make empowered investment decisions