How Rising Home Prices Will Help You Build Family Wealth In 2018
So, what does this mean for homeowners and their equity position?
As an example, let’s assume you purchase and close on a $250,000 home this month (January 2018). If we only look at the projected increase in the price of that home, how much equity can you earn over the next 5 years?
Over a five-year period, your equity will increase by nearly $45,000! This figure does not even take into account your 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 home ownership 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!
If you have any questions about the home buying process or new home buyer loans, just call/text me at 602-295-6807 and I can help answer all of your questions!
"Real Estate is not just a job for me, it's about making a difference in the lives of others"
Troy Erickson Realtor
Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.