How to Put Your Housing Cost to Work For You

    There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time.

    The National Association of Realtors (NAR) recently broke down the equity gained from price appreciation and principal payments in their Economists Outlook Blog. Homeowners who purchased their homes five years ago have already gained almost $80,000 in equity over that time with 80% of the gains coming from price appreciation.

    For a homeowner who purchased their home 30 years ago, they have gained nearly $250,000 in equity with 70% coming from price increases.

    According to the Home Price Expectation Survey, a family who purchased a median priced home this January can expect to gain more than $42,000 over the next five years simply from price appreciation alone.

    Your home is one of the only investments you can live inside as you pay it off over time. If you are ready to use your housing costs to build wealth, contact us and we can help you determine how to make your dream a reality.

    Trackback from your site.

    Ann Rudd

    Ann is a 3rd generation real estate professional in her family and has inactive licenses in Maryland and Pennsylvania and is actively licensed in North and South Carolina. Seeing other members of her family help others achieve their home ownership dreams inspired her to become a real estate agent. Helping families is what her job is all about. Whether they are buying a larger home, downsizing, transitioning to a new town or neighborhood, Ann's mission is to make those transitions as smooth as possible.

    Leave a Reply