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Homer Ray
By Homer Ray | Broker in New Bern, NC

Appreciation and Mortgage Reduction at Work!

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Posted under: Home Buying in Havelock  |  October 8, 2009 11:47 AM  |  99 views  |  No comments
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Appreciation and mortgage reduction are great tools for building wealth.  That's one of the reasons buying a home is still in my opinion a great way for responsible individuals to begin to shape their financial situation early.

For the cynics in cyberspace, I felt that way before I starting selling real estate, because I bought my first house in 1989. I still believe it is one of the best things I have EVER done with my money.

Here's the quick math:
 
Home Bought with $5250 down payment & held for 5 years:
Price  $     150,000
Down Payment 3.5%  $ 5,250
Mortgage 5.250%  $     144,750
Appreciation 3%
Future Value  $     173,891
Wealth Position - Equity  $   40,505
$5250 invested in a Certificate of Deposit for 5 years:
Cash to Invest  $ 5,250
Yield 3%
Wealth Position  $ 6,086
If you'd like to know more about buying your first home or another real estate transaction send me an email:
homerray@c21zr.com
   
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