You may have heard that homeownership helps build wealth. What may not be so clear is how that happens. After all, if you are investing a large amount of money into property, how exactly does that help you make more money?
What is often not discussed is that while homeownership helps build wealth, it takes time to do so.
Time is the key. In general, homes appreciate year over year. That means that as the years go on, your home will be worth more as long as it is well maintained and cared for. As you pay off your mortgage and your home increases in value, you are essentially creating wealth. For example, if you bought a home in 2006, it is likely worth about 35% more right now. Of course, you will not realize that wealth until you sell your home.If you are ready to make the most of the equity you have built and sell your home, let me help you! As a Realtor who has represented numerous sellers in the Tampa Bay area, I can help get you the best deal possible for your home. Right now is a great time to sell. With few homes listed on the market, sellers are making more while buyers are enjoying the benefits of low mortgage rates.