How Can You Build Wealth Through Your Home?
There are many financial and non-financial benefits of homeownership, and the greatest financial one is creating wealth! Homeownership is and has always been a great starting point towards forming household wealth.
No matter where you are looking to gain homeownership or investment, one factor that will remain constant across the board – Homeownership builds wealth through home equity, which is the difference between what you owe on the outstanding balance of your home and it’s fair market value.
Just in the past 12 months, there has been a swell in the wealth created through increased positive home equity. CoreLogic released the data that you can find here.
In short, “many homes have regained equity and the outstanding balance on the majority of mortgages in this country are now equal to or in a positive position when compared to their loan balance.”
Building Wealth on the Coast
With that being said, what better place to build wealth than on the coast of North Carolina? Although we stand forefront during hurricane season and we don’t see much change from fall to winter, the culture and community in cities like Hampstead, NC is incredible. Things move a little slower in the south and the warm hospitality is our specialty. But, that’s not even the best part for NC homeowners.
The cost of living and taxes are below the National average and the median home value is $108,300. Living in North Carolina, in places like Hampstead, Holly Ridge, Jacksonville, Wilmington or even small town Sneads Ferry is beneficial to the investor looking to build wealth through real estate or the average American family looking for somewhere affordable to live; and in return, gaining household wealth.
Get in touch with our team today to find out how you can start building wealth through real estate along the North Carolina Coast!