How To Put Your Housing Cost To Work For You

Dated: 03/28/2019

Views: 61

How to Put Your Housing Cost to Work for You

How to Put Your Housing Cost to Work for You | MyKCM

There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time.

The National Association of Realtors (NAR) recently broke down the equity gained from price appreciation and principal payments in their Economists Outlook Blog. Homeowners who purchased their homes five years ago have already gained almost $80,000 in equity over that time with 80% of the gains coming from price appreciation.

For a homeowner who purchased their home 30 years ago, they have gained nearly $250,000 in equity with 70% coming from price increases. The full results can be seen in the chart below.

How to Put Your Housing Cost to Work for You | MyKCM

According to the Home Price Expectation Survey, a family who purchased a median priced home this January can expect to gain more than $42,000 over the next five years simply from price appreciation alone.

Bottom Line

Your home is one of the only investments you can live inside as you pay it off over time. If you are ready to use your housing costs to build wealth, let’s get together to discuss how to make your dream a reality.

Blog author image

Matthew Hoagland

My name is Matthew Hoagland, Team Leader of The Hoagland Real Estate Group of RE/MAX Premier Properties. I would like to thank you for considering our services in your search for a new home, listing y....

Latest Blog Posts

The Top States Americans Moved To Last Year

Some Highlights: Americans are on the move, and the most recent Atlas Van Lines Migration Patterns Survey tracked the 2019 traffic flow from state-to-state. Idaho held on to the

Read More

My First 6 Months As A REALTOR W Tony Standrod

Matthew sits down with Tony Standrod, Team Agent with The Hoagland Real Estate Group at RE/MAX Premier Properties, to discuss what its been like his first 6 months as an Agent. If you are thinking

Read More

Should I Sell My House This Year

Should I Sell My House This Year?If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market

Read More

2020 Homebuying Checklist

Some Highlights: If you’re thinking of buying a home, plan ahead and stay on the right track, starting with pre-approval. Being proactive about the homebuying process will

Read More