If you need assistance, please call 850-259-1798

Accessing Equity | Beach Road Realty Blog

Monday, October 2, 2023   /   by Richard Eimers

Maximizing Home Equity For Wealth Building

Homeownership offers numerous benefits such as stability, predictable payments, and the freedom to personalize your space. Additionally, it can contribute to building wealth over time, with studies showing that homeowners tend to have higher net worth compared to renters.
Understanding Home Equity: Home equity is the difference between your home's current market value and the remaining mortgage balance. For instance, if your home is worth $250,000, and your mortgage balance is $200,000, you have $50,000 in home equity.
Wealth Building with Home Equity: Homeownership builds wealth through "forced savings" – as you make mortgage payments, your loan balance decreases, and your home equity increases. Furthermore, real estate often appreciates over time, providing a potential return on investment.
Growing Home Equity Faster: Two primary methods to expedite equity growth are:
Paying Down Your Mortgage: Make extra payments, yearly lump sums, or consider refinancing to a shorter mort ...

  beach road realty, eimers group, richard eimers, accessing equity, cash out refinance, equity growth, financial advice, forced savings, heloc, home appreciation, home equity, home equity loan, home investment, home ownership, home upgrades, maximize equity, mortgage payments, mortgage strategies, property maintenance, property value, real estate consultation, real estate investment, reverse mortgage, wealth building

Beach Road Realty
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798

The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of REALTORS® and its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Data last updated June 16, 2024

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. Vendor Member Number: 28179

This site powered by CINC: www.cincpro.com