How Your Home Can Build Your Family’s Wealth

How Your Home Can Build Your Family’s Wealth Over The Next Five Years

Home prices are expected to appreciate an average of 3.24% annually and to grow by 21.4% cumulatively over the next five years. This is according to Pulsenomics’ Home Price Expectation Survey.

What does it mean for homeowners like you and their equity position?

For example, a young couple purchases and closes on a $250,000 home in January. Given the projected increase in the price of that home, the equity that they will earn over the next five years would be $43,201.

The experts predicted that home prices will increase by 4.00% this year alone. The young couple will have gained over $10,000 in equity in just one year.

In many cases, home equity is one of the biggest portions of a family’s overall net worth. Considering this, over a five-year period, the young couple’s equity will increase by over $43,000.

Owning a home is something to be proud of! But it also gives you and your family the ability to build equity you can borrow against in the future.