Your Tooele UT Home Is A Great Investment
I posted this last week about your Tooele home being a great investment. It was shared with me by Keeping Current Matters. Wanted to pass the information on, so that as families consider the pros and cons of buying a new Tooele house, they will think of that purchase as more than just getting a place to live.
Just think about it.
The interest paid on bank savings accounts is almost nothing. The stock market has been volatile and has cost investors a bundle over the last few years. While real estate took a hit recently and much equity was lost, those that continued to service that debt have recovered what they lost and then some.
Read what KCM has to say below and then scroll down to see what I have to say about leveraging your Tooele property, and how the value of Tooele houses has increased for their owners.
With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house.
A recent study by the Joint Center of Housing Studies at Harvard University revealed that home equity grew nicely last year and has grown dramatically over the last five years…
Buyers looking today may not see the same build-up in equity but could still do quite well.
Let’s assume you went into contract in the next six weeks and closed on a $250,000 home in January. If we take the house value projections from the last Home Price Expectation Survey, here is how your equity would grow over the next four years:
Homeownership has historically been a great way for the average American family to build wealth over time.
Let's see how this chart breaks down for a make believe buyer in Tooele County, using the average price of a house in the county at around $200,000 (anticipated @ end of year), and a 4% appreciation rate.
So, after 5 years of home ownership, in this very modest scenario our fictitious home buyer has increased their wealth by almost $34,000.
I can't think of any other ways to invest that will return that kind of reward. Can you?
What if houses don't increase in value as we have suggested here? So what! You had to pay to live somewhere.
Want to know more? Call me, Berna Sloan 435-840-5029, Let me talk to you about real estate and about why your Tooele UT home is a great investment.
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