Increase Your Family Wealth Through Home Ownership

Dated: 03/18/2019

Views: 508

Know this:  Unless you’re living somewhere rent-free, you’re paying a mortgage – either yours or your landlord’s. Buying your own home provides you with a form of ‘forced savings’ that allows you to use your monthly housing costs to increase your family’s wealth.  Team Nest Builder explains how this works:Increase your family wealth through home ownership!

Every month you pay your mortgage, you’re paying off a portion of the debt you took on to purchase your home. Therefore, you own a little bit more of your home every month in the form of home equity. As your home’s value increases, you also gain home equity.

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists. They’re asked to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

The latest data from their Q1 2019 Survey revealed that home prices are expected to round out the year 4.3% higher than they were in January. For the next 5 years, home values will appreciate by an average of 3.21% a year.

This is great news for homeowners!

For example, let’s assume a young couple purchased and closed on a $250,000. home in January of this year. Simply through their home appreciating in value, those homeowners can build their home equity by over $40,000. over the next five years!

Want To Increase Your Family’s Wealth? Here’s How! | MyKCM

Let’s look at the potential equity gained over the same period of time at some higher price points:

Want To Increase Your Family’s Wealth? Here’s How! | MyKCM

In many cases, home equity is a large portion of a family’s overall net worth.

Bottom Line

Whether it’s your first or your fifth, if your plan for this year includes buying a home, call Team Nest Builder’s Lynn Garafola at 973-222-3777 today to get started! Interested in a FREE downloadable Spring 2019 Home Buyer Guide? Click HERE!

Liked this article? Check out our blog for loads of helpful information on real estate, home improvement and community events!


Source:  KeepingCurrentMatters.com

Latest Blog Posts

The 1 Thing You Can Do Now To Position Yourself To Buy A Home This Year

The #1 Thing You Can Do Now to Position Yourself to Buy a Home This YearThe last few weeks and months have caused a major health crisis throughout the world, leading to a pause in the U.S. economy

Read More

OPEN HOUSE UPDATED 3 BDR Cape Cod

Step into 2 Seneca Trail and this sweet 3-bedroom, 2-bathroom Cape Cod in Sparta’s highly-desirable Lake Mohawk community captures your heart.  See for yourself at our OPEN HOUSE Sunday,

Read More

Breathtaking 4BR Colonial With Swimming Pool OPEN HOUSE THIS WEEKEND

Are you looking for a beautiful 4 Bedroom colonial in Sparta? Look no further than10 Crestview Lane! Join us for an OPEN HOUSE on 2/23 from 1-3pm! PRICE ADJUSTMENT to $550,000!This breathtaking

Read More

Tax Seminar With Team Nest Builder

Paying too much in Real Estate Taxes? Find out how you could get them reduced!In this seminar--hosted by Lynn Garafola of Team Nest Builder--you will learn:4 different “values” for your home

Read More