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?
How Rising Prices Will Help You Build Family Wealth in 2018 | MyKCMSince 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!

 

Today’s Biggest Housing Market Myths

Today’s Biggest Housing Market Myths

If you have questions about what you’re hearing or reading, let’s connect. You deserve to have someone you can trust to get the facts and sort out the misconceptions.

Is Affordability Starting to Improve?

Is Affordability Starting to Improve?

While affordability is still tight, there are signs it’s getting a little better and might keep improving throughout the rest of the year. Here’s a look at the latest data.

Where Will You Go After You Sell?

Where Will You Go After You Sell?

Want to see what’s available? Your real estate agent can show you what homes are for sale in your area, so you can see if there’s one that works for you and your needs.

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