Build Your Wealth Starting in 2018 – Mill Creek Lakes with only FOUR remaining! Buford / Mall of Georgia Area
Did you ever wonder how people build wealth? One of the most common ways is through buying a new home. In a recent article in Keeping Matters Current, the rising price of real estate is discussed, but with a twist. It shows you how the current rising prices can help you to build your wealth quickly with the current growth pattern. ” 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?
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.” Read full article here