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Buying My House in Queens NY | Getting Pre-Approved Should Always Be Your First Step
As a full-time real estate professional in Queens, Brooklyn and Long Island communities. I will help you achieve the results you desire.People who choose to go-it-alone in real estate are often disappointed by results. Together, you and I will define your needs and formulate a plan for achieving your real estate goals. I pledge to work hard promoting your property and finding you the perfect home. I won't quit until the job is done to your satisfaction. Together we can make this happen!
Our topic today Rising Prices Help You Build Your Family’s Wealth
In Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% 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 purchased and closed on a $250,000 home this 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 5.0% in 2018, the young homeowners will have gained $12,500 in equity in just one year.
Over a five-year period, their equity will increase by over $48,000! 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.
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!