Posted by Hailey Miller on Wednesday, August 22nd, 2018 at 9:05am.
Want to create wealth through homeownership? Build equity.
Home equity is the percentage of your home’s value that you own, and it’s key to building wealth through homeownership. Let’s take a closer look at how to build home equity without blowing your budget — and how to access it when you need it.
How much equity do you have?
Equity is easy to calculate when you first buy a home because it’s basically your down payment. For example, if you put $11,250 down on a $225,000 home, your down payment is 5 percent and so is your equity.
From 2016 to the first quarter of 2018, most first-time home buyers in the U.S. started with about 7-percent equity, according to
I hope you are having a great Fall and didn’t get to drenched trick or treating with your kids, I know we were soaked in less than an hour. This is an exciting time of year; leaves are falling, it’s snowing in the mountains and we had a crazy amount of rain over the weekend:)!
Below are some great articles on whats going on in the Real Estate world, a quick read on how Hip-Hop, fiction and games can teach kids financial literacy and a fun little blurb on tiny homes that move with you wherever you go.
Have a great month and please let me know if you have any Real Estate needs that I can help you with. The Cascade Team lists homes for 1%, and still offers full service, this saves you a lot of money in the…