How Rising Prices Will Help You Build Family Wealth in 2018
Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (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 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $45,000! 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.
Bottom Line
Not only is homeownership 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!
Don’t Let These Two Concerns Hold You Back from Selling Your House
Working with a local real estate agent is the best way to see what inventory trends look like in your area.
More Homes, Slower Price Growth – What It Means for You as a Buyer
Having a real estate agent who knows the local area can be a big advantage when you start the buying process.
What’s Motivating Homeowners To Move Right Now
Selling your home isn’t just about market conditions or mortgage rates—it’s also about making the best decision for your lifestyle and future.
The Majority of Veterans Are Unaware of a Key VA Loan Benefit
VA home loans are designed to make homeownership a reality for those who have served our country.
Renting vs. Buying: The Net Worth Gap You Need To See
If you’re on the fence, it may be helpful to speak with a local real estate agent. They can help you weigh your options.
Expect the Unexpected: Anticipating Volatility in Today’s Housing Market
Understanding what’s happening will help you make the right decisions, whether that’s buying or selling.
Is a Fixer Upper Right for You?
The perfect home is the one you perfect after buying it. With careful planning, budgeting, and a little bit of vision, you can turn a house that needs some love into your perfect home.
How Real Estate Agents Take the Fear Out of Moving
Real estate agents are trusted guides to help you navigate the complexities of the housing market with confidence and ease.
Why Home Sales Bounce Back After Presidential Elections
As has been the case before, once the election uncertainty passes, buyers and sellers will return to the market.
Why Your House Will Shine in Today’s Market
If you’re thinking about selling, the shortage of homes for sale means your house is likely to get some serious attention from buyers.