The amount of wealth Americans have stored in their homes has increased astronomically.
On average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000.
When it’s time to sell, your home equity can help accomplish your goals. Reach out to a local real estate professional to discuss how you can take advantage of today’s sellers’ market to get the most out of your home sale.
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Building financial wealth and stability remains one of the top reasons Americans choose to own a home, and as a homeowner, your wealth often grows without you even realizing it.
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When you rent, you build your landlord’s wealth, your monthly payment depends on ever-rising rents, and you don’t benefit from home price appreciation.
On the other hand, when you own your home, you build your own wealth, your monthly payment is locked in, and you benefit directly from home price appreciation.
If you’re feeling the challenges of a competitive market, remember that homeownership is a long-term game. Persevering today will lead to financial rewards in the future.
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Longer days and sunny weather mean summer is upon us, and what better conditions than right now to upgrade to the home of your dreams?
If your needs have changed, it’s a great time to upgrade – there’s likely high demand for your current house, and today’s low mortgage rates can help you afford your dream home.
If you’re ready to upgrade to a home that matches your changing needs, reach out to a local real estate professional today.
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Last month, in a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York noted that Americans believe buying a home is definitely or probably a better investment than buying stocks.
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