Sarasota Home Equity Matters
An important part of the American Dream that remains the same is homeownership. The fact that it builds family wealth is one of the biggest reasons why.
Here is a chart that shows the home equity that has been built after 7 years of making mortgage payments (while assuming the national average of 3% per year home appreciation):
This number continues to grow as you continue to own your home.
Here is the average equity homeowners have acquired by certain ages according to a report published earlier this year by Merrill Lynch.
Home equity is essential when building wealth as a family. If you rent, you’d have zero equity and nothing to build on. Building equity helps you create financial stability!
Contact your local real estate agent today to find out what could work for you and your family.