Home Equity and building wealth in real estate

What is home equity

 Read up, specially you – First time home buyer. Do you want to build wealth overtime with Real Estate?

 

Here is your chance to do so. Building home equity. So, what is it? 


Home equity is defined in many ways but essentially it means the difference of what you owe in your mortgage vs your homes worth in the current market. 


So, let’s say you bought your first home and your mortgage is $350,000. Over a period of 2 years that you own your home the value now appreciates to $370,000. So, the difference of $20,000 is your home equity. Which means you did not even have to lift a finger and you already earned $20,000 over the next 2 years for just owning your home. Isn’t that great? No, it’s not just great it is AMAZING!


The beauty of having home equity is that you can use it to borrow towards your home as it is essentially yours. You can use it for emergencies, to pay off your credit card debts, home renovations and additions, buying a new car or even going on vacation. Although, I would not recommend using it for something you do not necessarily need. I am an advocate to saving money. It’s a great way to just show you how you can build wealth through owning your own home. 


So why wait and hold off on buying a home, do it as soon as you are able and ready to do it financially. There are many great rewards in owning your own home. So, whether you are looking for your first home or looking for a great real estate investment, there is wealth waiting for you ready to make you richer day by day. 


Did you know that in California, most homeowners are considered equity rich? The average home equity gain from last year is $15,000 per household. 


Imagine, someone (I meant the bank) is willing to lend you money to make money? Wow! I will make my move now. Not later, not tomorrow but now. Think of all the possibilities on how you can build wealth with real estate. For sure there’s many ways out there to build wealth and this is just one of the ways to do so. Think Equity Equity Equity! 


If you are located in California and specifically looking for a new home around the area of Pittsburg, Antioch, Brentwood, Walnut creek, Concord and Martinez, feel free to contact me at 925-490-2555. I will be happy to assist you in finding your dream home. I am a real estate agent that specialize in this area. I call the east bay home for many years now and I am very knowledgeable and specialize in this market.


For more tips, tricks, blogs, suggestions, comments and if you want to share your story please contact me at sigrid@asksigrid.com.  www.asksigrid.com


Century 21 MM DRE#02062615 www.C21mm.com  

What is your understanding of home equity?

Lets discuss: drop me a message sigrid@asksigrid.com

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