As long as many of us can remember owning real estate in Tempe, or any other part of the country, has been a major goal for us once we entered adulthood. With lifestyles, society and the economy drastically changing, many are under the assumption that home ownership isn’t as important to people as it once used to be. Real estate agents in Tempe say, however, that homeownership is, thankfully, still part of the American Dream for a reason that many individuals may not consider.
According to Freddie Mac, owning real estate in Tempe, and throughout the nation, is still a goal for many individuals and families simply because of one important little word: equity. When you invest money in a piece of real estate in Tempe, you are investing in yourself and in your future; you’re building your wealth. As you pay down on your mortgage and your home’s value appreciates, the amount of equity also increases. One real estate agent in Tempe explains it like this: if you rent for years on end, what is your money doing for you and how is it helping build your financial future? It’s not helping you actually; it’s helping to build the wealth of your landlord instead of yourself. When it’s time to move, you get nothing whereas when you sell your home, you are entitled to that equity. Depending on your age, the average amount of equity varies, with older homeowners obviously having more equity built up than younger homeowners, however any homeowner is going to have more wealth and equity than those individuals and families that choose to rent.
If you are at all interested in owning real estate in Tempe and having home ownership be part of your American dream, contact a real estate agent in Tempe today to learn about how you can begin investing in your future and building your wealth.