The real truth is that real estate when bought and sold correctly is one of the best investments anyone can make. Down through all the years real estate has always been the measure of wealth. Today with incentives people who had has troubles are now getting back in the market. People who have had their last child move off after graduating are considering downsizing. Younger people who have lived with their parents after school as they start off on the careers and get their own college debt-load under control are also coming back into the market. There is a great deal of choice and option. To get your questions answered you never have to be our client.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Since the experts predict that home prices will increase by 5.0% this year alone, the young homeowners will have gained $12,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $49,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.
Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today! You never have to be our client to get your real estate questions answered.