If you are looking to buy a home in Lapeer MI, as a real estate broker, we want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods we use is to research the current inventory almost on a daily basis, we want to know where are the best deals for our clients when it comes to purchasing a new home in the Lapeer area.
Today, we would like to talk to you about How Rising Prices Will Help You Build Family Wealth in 2018.
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?
Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.
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.
Bottom Line
Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!
Source … KCM Donald Horne Blog
If you have any questions about Lapeer, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 810-338-0628. We will be happy to help you. We specialize in Lapeer Homes and we also live here.
Or send us an email at teamsuccesslisting@gmail.com
Are you considering selling your home? If you are, we would love to meet with you soon to show you what comparable properties have recently sold for, give you an estimate of your home’s current market value and review with you our marketing program.
Donald Horne, Broker / Owner
Team Success Listing LLC
810-338-0628 / teamsuccesslisting@gmail.com