Buying a Barnegat Home will increase your wealth and build financial equity.
Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
In Barnegat the average sale price for homes went up 7.63% in 2017!
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 this January. If we only look at 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% in 2018, the young homeowners will have gained $12,500 in equity in just one year.
Over a five-year period, their equity will increase by over $48,000! 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.
Think you need a downpayment to buy home in Barnegat? Not with a USDA home loan guarantee you don't!
A USDA home loan is a zero down payment mortgage for eligible rural and suburban homebuyers. USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture
Advantages of the USDA Home Loan Guaranteed Program:
- 100% financing
- No down payment requirement
- No Mortgage Insurance
- No Cash Reserves Required
- Loan up to 101% of appraised value
- Seller Contributions Limited to 6%
Not only is homeownership in Barnegat 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 today!
Karl Hess & Keller Williams Shore Properties provides expert real estate services to residential buyers and sellers in Barnegat. Contact us today for more information on Ocean County Real Estate and for professional assistance navigating this complex home market.
As always, thank you for your time and feel free to get in touch if you have any questions. Karl Hess, Keller Williams Shore Properties - #1 Real Estate Office in Ocean County