By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent
One of the really nice things about Homeownership is that it helps you by creating an automatic savings account. Many people are not very good at saving money. By owning a home you can accumulate savings in two ways. Every month a portion of your payment goes directly toward principal. Early in the mortgage very little goes to principal but over time it accelerates.
Second, your home appreciates. The average appreciation on a home is approximately 5%. Your appreciation will vary from year to year, and in some years it may even depreciate. Overtime, history has shown that owning a home is one of the very best financial investments.