A wise person once said, “Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.

 

Have you ever wished you could live rent free, and still save big money?  The truth is, with a wise home purchase, and time, you may very well be able to. Let me explain: as you pay down your mortgage and as prices of homes like yours go up, you gain equity. The equity is now part of your personal wealth.

For example, if you paid $175,000 for your home, still owe $170,000 but homes like yours are now selling for $250,000, you have amassed $80,000 in equity and that becomes part of your personal wealth. Of course, you may pay the real estate costs to sell, so using an agent who charges the typical 3% commission, you would end up with about $72,000 cash in your pocket.  You have made real money and gotten the mortgage money back that you paid while living in the house.  You now can put that $72,000 into another home purchase, investment or in long-term savings. If you had been renting during the same period, you would not have gained any money. Of course, all of this assumes that you sold your home for more than you paid to buy it. That’s why a well thought out and researched purchase is important.

 

The Kinds of Steps That Make a Difference

 

As you move through your life, even if you never change your annual income, there are ways to make the money you have work for you. Things like putting your savings into an account that pays the highest rate of interest. Saving money by finding a bank offering free checking. Paying off credit cards on time, so you don’t pay interest on them, and not occurring checking overdraft fees. Many of these sound practices also allow you to borrow money at a lower rate of interest. It all adds up, as does owning a home.

 

Bottom Line

 

The federal government recognizes one difference between people living in rentals and those making house payments, and it is the ability of homeowners to amass wealth. The Federal government has established several programs that offer no down payment or low down payment mortgages. These are available to many people as many will benefit from this leg up to homeownership.  This is offered in order to lift families up and help them to accumulate personal wealth and to help build healthier communities.

 

Let Us Help

 

Your employer is offering the Advantage Home Plus Homeownership benefit to you at NO COST to help you with one of the largest purchases you may make. Contact our representatives who will walk you through the process and find the perfect mortgage that will save you THOUSANDS in mortgage fees. Our staff is waiting to help you to get started. Call us at 1-800-376-4603 or contact us at info@advantagehomeplus.com.