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Interested in Buying a Home? |
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How Much House Can You Afford? John L Scott Home search tools Buying "New" House vs. Buying "Old"House Buying a home? Just looking? Besides the listings Elena currently has, she also has access to all the homes listed within the state of Washington. She can assist your search for real estate. Also Elena can discuss different neighborhoods of Seattle, Bellevue, Mercer Island Kirkland, practically all of Puget Sound, she also has a wealth of knowledge regarding school districts, local amenities, commute times and crime levels of neighborhoods. So please look around our web site and Contact Elena, 206 992-0654. Neighborhoods >Schools > Why Buying a Home is a Good Idea As a fairly general rule, homes appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.Five percent may not seem like that much at first. Stocks (at times) appreciate much more, and you could easily earn over the same return with a very safe investment in treasury bills or bonds. But take a second look… Presumably, if you bought a $200,000 house, you did not pay cash for the home. You got a mortgage, too. Suppose you put as much as twenty percent down – that would be an investment of $40,000. At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your annual "return on investment" would be a whopping twenty-five percent. Of course, you are making mortgage payments and paying property taxes, along with a couple of other costs. However, since the interest on your mortgage and your property taxes are both tax deductible, the government is essentially subsidizing your home purchase. Your rate of return when buying a home is higher than most any other investment you could make. |
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Upcoming Seminars
First Time Home Buyer Seminar - February 16th Come join us and learn about the home purchasing process. We guarantee you'll learn useful information to help with your first home purchase. Please call to RVSP (206) 992-0654
Financial Planning - January 12th Learn the secretes of preserving and multiplying your money!!! Please RVSP (206) 992-0654
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I am never too busy for your referral!