Talk About a Smart Investment: Real Estate is a Wealth-Empowering Tool!
We recently had a client who sold their house with us in Stem, NC. The house sold in just three days and we had multiple offers, however, we think you are going to be more interested in the backstory on this one…
The seller was a past client of ours and we actually helped him buy this house. At the time that he bought it, he really wanted to get out of renting but he knew this house was going to be more of a short-term purchase than a forever home for him. Right away, 312 Wick Road was a win-win because his mortgage was less than his rent. He did the smallest downpayment that was available and was able to get a USDA loan because the property is in Stem. (USDA provides homeownership opportunities to rural Americans, and home renovation and repair programs.) His investment ended up being around $5,000 for this house. Now for the fun part… In a little over two years, his house appreciated close to $100,000! That is what we call a smart investment! Now, our client is able to further his education and pay off debts with the money he made from the sale.
“Where else could I have invested $5,000 and in 26 months make close to six figures?! This is life-changing and all while needing a roof over my head regardless.” – 312 Wick Road Seller
We wish him all the best in furthering his education and we can’t wait to see what smart move he makes next!
“Real Estate is the Number One Wealth-Empowering Tool” – Renée Hillman
When you purchase a home with a mortgage, a portion of every payment you make each month goes toward paying down your loan. By doing this, you are building equity in your home (the market value of your home minus what you owe on it). As the market appreciates and you continue to pay off your mortgage debt, you will start accumulating housing wealth. To sum it up, owning a home empowers you to gain wealth in the form of equity and resale value. In contrast to renting, you also know that the price you are paying is going to stay the same.
“For first-time homebuyers, finding the money for a down payment is typically the primary barrier to homeownership. However, once the home is purchased, appreciation helps build equity in the home—a significant benefit that renting doesn’t offer.” – Fortune via the National Association of Realtors
Ready for Home Ownership?
We know buying your first home can be an exciting yet complex adventure which is why you need an experienced team with you every step of the way.
One of our specialties at Hillman Real Estate Group at eXp Realty is representing the best interests of Triangle-area buyers throughout the home-buying process. Our comprehensive, high-quality services will save you time and money, as well as make the experience more enjoyable and less stressful. Contact us today to start building your housing wealth at 919-877-6708.