Homeowners gained average $56,700 in home equity last year

Homeowners gained average $56,700 in home equity last year

Hey, my friend, happy Monday. This is the second week, we just finished in 2022. We are in the third week now.

And I have great news, if you are a homeowner. At an average, homeowners last year gained $56,700 in Home-Equity. Congratulations. If you just bought your home last year, hey, you become the homeowner, and BOOM, you gained the equity.

Per Core Logic, at an average, the homeowner gained 17.7% in the equity. Now think about this. If you are some individual who are thinking of buying because the prices are going up and you keep on renting it, what are you doing? If you understand the full aspect of it down the road, what's going to happen. When you rent a home, your rent goes up every single year. On the same side, when you buy a home, you get a fixed 30 year mortgage. Now, if you have a mortgage payment including principal, interest, taxes and insurance, and it's in your budget and if you pay that for 30 years, what happens? You have a paid-off home. Compared to a rental property, if you rent for 30 years, what happens? Your rental payment goes up and you get no equity.

So just last year, $56,700 gained in home equity. Congratulations again. You just took the step to build wealth for your family. Check out our Wealthy Wednesday videos. I speak about a lot of ways you can use the home equity to build the wealth or give me a call I'll be happy to discuss with you. How can you use that home equity and build wealth for your family?

So my friends, if you're still on the fence thinking of buying, don't wait anymore. Call me or call one of our team members. We will sit down and go through the steps for the home buying process, and how you can gain from that. And how can you make your budget a steady budget? Because rent always goes up. But when you buy a home, you have a steady budget. That's another freedom of mind also.

So let's talk. The homeowners who gained that much $56,700 at an average home equity, Congratulations again. And in some areas, you probably made more money. Because some of the areas are more demanding than some other areas. This number is an average only.

So check out our next videos, next Monday, about general real estate. Our Wealthy Wednesday for Investment on Wednesdays, Myth vs Truth on Tuesdays. See you guys in another video. Shawn Bhakta from Remax Residential, South Florida Home Finder Team. Happy to help you.