North Georgia Real Estate, Blue Ridge Mountains, Move 2 North Georgia, Homeownership, Housing
Appreciation ---> Equity ---> Advantages of Homeownership
Leveraging Your Money to Build Wealth
Let's say you purchase a residential home for $150,000 with a 10% down payment. You might even be able to get FHA financing which requires 3.5% down, VA loan requires 0% down and USDA 100% loan requires 0% down. But let's take an example that requires at least 10% of the purchase price as a down payment. You would put down $15,000 to purchase a property worth 10 times the amount of the down payment! This is leveraging your money and is one of the greatest financial aspects to purchasing real estate.
And in today's market, you can find plenty of opportunity to purchase a home for a price below market value!
Build Wealth thru Appreciation
Real estate is a long term investment and one of the benefits of leveraging your money is appreciation. This is the rise in value of a property. If you keep the $150,000 house for 5 years and property values rise 2.5% annually; the home would be worth $168,750 by putting only $15,000 down. You benefit from the appreciation on the entire purchase price, not just the down payment.
Build Wealth thru Equity
During the five years that you own the home, you are paying down the principal with each monthly mortgage payment. This is called building equity. When you get ready to sell your house, you will realize a profit from your down payment of $15,000 through appreciation and equity. Now, factor in the tax advantages to owning a home and you are well on your way to building wealth.
The North Georgia real estate market is a very opportunisitc market for buyers and sellers. I help buyers establish their purchasing power, understand tax advantages, financing alternatives and investment aspects of homeownership. I help sellers in the sale and marketing of their home. I am your MLS listings expert and want to be your personal real estate professional. When do you think you will be making your next real estate move?
Call Donna Today ! 706-633-0644
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Coldwell Banker High Country Realty 706-632-7311
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