The Value of Building Home Equity

There are numerous advantages to owning a home. One of the serious advantages is the equity that is built over time. As equity builds, you create a pool of money to access in trying times.

Home Equity

Equity is simply the value of a property after all debts have been deducted. If your home appraises at $500,000 with a home loan of $250,000, you have $250,000 in equity. Whether you realize it or not, this equity can get you through hard times or provide you with a funding resource. Let's look at some examples.

Emergency

If you get through life without any family or financial emergencies, you are one lucky person. Unfortunately, most people aren't so lucky. Home equity can provide a financial cushion when life gets hard. You can use it to pay medical bills, legal fees and any other expenses that arise from your particular problem. You will be extremely thankful you purchased a home if you ever run into this situation.

Education

If you've ever watched "The Simpsons," you may have seen the episode where Bart and Homer go camping. Bart tells Homer a scary story, but you only see the end of it and Homer screaming in terror. The words Bart whispers are, "?and that's how much it will cost to send Maggie [baby] to college." It is a very funny scene until you, a parent, actually investigate the cost of college tuition. Trust me, nightmares will soon follow.

Home equity can put an end to college tuition nightmares. You can borrow against the equity to pay college expenses. As with an emergency situation, home ownership will give you the ability to pay the bills.

Making the decision to buy a home can be stressful and frightening. As time passes, you will be incredibly happy you made the leap.

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In The News:


The Massachusetts Daily Collegian

Real Estate finds tranquility, but breaks little new ground on 'In Mind'
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Toward the conclusion of “In Mind,” the fourth album from New Jersey's suburban jangle-pop masters Real Estate, Martin Courtney muses “Green river still runs under that same sun/I never saw the source but I know the chorus.” At once both a reference to ...


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May I Virtually Help You? Chatbots Move Into the Real Estate Sector
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Following are real estate transactions over $5000 as listed in records of the Erie County clerk's office for the week ending Feb. 17, 2017. AMHERST • 3…

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Politico

Schumer: 'You cannot run the presidency like you run a real estate deal'
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Senate Minority Leader Chuck Schumer blasted President Donald Trump's deal-making prowess Sunday, saying he'll "get nowhere" on tax reform and health care legislation if he continues to run the presidency like "a real estate deal." During an interview ...

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Sarasota Herald-Tribune

REAL ESTATE PEOPLE
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CapitalGazette.com

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There are a variety of indices, or metrics if you will, that we follow to measure where we've been, and where we might be going, in the world of real estate. The performance of real estate locally might be different, but for the big picture, here are ...


Bloomberg

Real Estate Veteran Macklowe's Next Venture
Bloomberg
Harry Macklowe is one of Manhattan's most storied real estate developers. He's the man whose losses in the crisis forced him to sell the GM Building, only to rise again phoenix-like to build the tallest residential tower in the western hemisphere, 432 ...

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SEC Case Against Florida Banker Over Real-Estate Loans Goes to Trial in Miami
Wall Street Journal (subscription)
One of the U.S. government's last remaining civil fraud cases related to the housing crisis goes to trial on Monday in Miami, where the Securities and Exchange Commission squares off against a longtime Florida banker accused of misleading investors ...


The Hill

Dems question potential Kushner real estate deal with Chinese firm
The Hill
Democratic lawmakers are raising conflicts-of-interest questions over a real estate project between a Chinese firm and the family of President Trump's son-in-law and adviser Jared Kushner. Kushner Companies, the real-estate developer owned by Kushner's ...
Trump taps Kushner to lead a SWAT team to fix government with business ideasWashington Post

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Charleston-area commercial real estate leases
Charleston Post Courier
Chris Cunniffe of Harbor City Real Estate Advisors represented Bloodgood Sanders LLC in leasing 1,425 square feet of office space at 242 Mathis Ferry Road. The landlord was represented by Shawn Howell of Howell & Associates. Johnny Bevon of Avison ...

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