Chandler Real Estate Provides Solid Financial Future Most people may not be aware that there is one tried and true method for accumulating wealth: real estate. While some people picture that to mean becoming a real estate magnate, the truth is that most people build wealth simply by being homeowners. And there’s no better way to get started than purchasing a home in Chandler.
Chandler is one of the last vestiges of affordable real estate, especially for single family homes and condominiums. It’s also a community where real estate values continue to increase, in part due to Chandler’s proximity to Phoenix, its excellent school system, and its friendly, family neighborhoods. So, how can owning a home in Chandler bring you closer to real estate wealth? It’s simple really. Every year the value of real estate in certain communities goes up, and Chandler is just one of those communities. As a home owner, the difference between what you owe for your home, and its current value is your equity. As a home owner in Chandler, you are destined to have equity that grows and grows.
For example, according the National Association of Realtors (NAR) most home owners with an income of less than $40,000 have equity in their home of close to $40,000, while owners with an income over $75,000 and have close to $100,000 in home equity.
Imagine each year that as your home value increases your equity increases along with it. Your equity grows as you pay off your mortgage, and it also grows as the home appreciates in value. Nationally, home appreciation values are running about 7.1 percent each year. In markets like Chandler, home prices have increased at an even faster level.
Think about how the standard appreciation levels could benefit you. Let’s say you move into a Chandler home and pay $200,000 for the home. Within a year, of the home appreciates by 7.1 percent, you’ll accumulate equity of over $14,200. There are very few investments that allow you to accumulate that volume of wealth within a year with relatively little risk, provide a place of shelter and comfort, and give you tax deductions besides.
Just like most stock investments, one of the keys to real estate success is to buy low and sell high. Although home values tend to steadily increase, when the market is slow or sluggish, like it is now, home owners can get a great value for their money. You can find a great deal in Chandler real estate, and watch your wealth increase each year.
There’s never been a better time to invest in the real estate market than now. It’s the first step in a lifetime of financial security, especially in a great neighborhood like Chandler. You’ll have a home you can enjoy and profit from for years to come.
Reg Gustin & Chris Larsen are senior loan officers with Sun American Mortgage and specializes in helping families and their financial lending needs.
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