Building Your Family’s Wealth And Plan the Next 5 Years
How does your nest egg look right now? Perhaps it is it non-existent or looking empty… well don’t worry because you can do something about that by making it a priority in your life to start investing. Morgan Property Solutions, orlando property manager believes the next 5 years is vital to your success and investing in property will give you a huge leap forward.
Over the next five years, home prices are expected to appreciate 3.24% per year on average and to grow by 21.4% 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 you purchase and closes on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will you earn over the next 5 years?
Since the experts predict that home prices will increase by 4.0% this year alone, you would have gained over $10,000 in equity in just one year.
Over a five-year period, your equity will increase by over $43,000! This figure does not even take into account the monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.
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, let’s get together to find out if you are able to, today.
Devinee Overton-Morgan, Morgan Property Solutions, Orlando property manager.