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Some Highlights If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership. Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s. Connect with an agent if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.
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Some Highlights You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise. Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time. So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s…Read More→
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Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too. According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than…Read More→
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If you’ve been wanting to sell your house and move up to a bigger or nicer home, you’re not alone. A recent Inman survey reveals the top motivator for today’s homebuyers is the desire for more space or an upgraded home (see graph below): But there’s also a good chance you, like many other people, have been holding off on that goal because of recent market challenges. It makes sense – when you’re planning an…Read More→
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Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision. As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation. Each…Read More→
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Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize. Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home. Home Equity:…Read More→
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Some Highlights Equity is the difference between what your house is worth and what you still owe on your mortgage. The typical homeowner gained $28,000 over the past year and has a grand total of $305,000 in equity. And there are a lot of great ways you can use that equity. To find out how much equity you have, connect with a real estate agent who can give you a Professional Equity Assessment Report (PEAR).
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Retirement is a time for relaxation, adventure, and enjoying the things you love. As you imagine this exciting new chapter in your life, it’s important to think about whether your current home still fits your needs. If it’s too big, too costly, or just not convenient anymore, downsizing might help you make the most of your retirement years. To find out if a smaller, more manageable home might be the perfect fit for your new…Read More→
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Everyone’s vision for the future is personal and unique. But for many, common goals include success, freedom, and prosperity — values closely tied to having your own home and the iconic feeling of achieving the American Dream. A recent survey by Bankrate reveals exactly that: homeownership is still a part of the American Dream. The results show, at 78%, that owning a home tops the list, surpassing other significant milestones such as retirement, having a…Read More→
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If you own a home, your net worth has probably gone up a lot over the past year. Home prices have been rising, which means you’re building equity much faster than you might think. Here’s how it works. Equity is the current value of your home minus what you owe on the loan. Over the past year, there have still been more people wanting to buy than there are homes available for sale, and that’s…Read More→
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