Home Ownership - Sean McCormack 512-653-1213
Home Ownership – Sean McCormack 512-653-1213

Home. At its most basic and primary level it is the place that offers shelter. But getting past that, an owned home is a wealth builder in terms of equity and appreciation.

What are equity and appreciation? It’s basically the difference between what a the home is currently worth and the amount that the homeowner still owes on the mortgage. For example, a buyer purchases a house for $200,000 with a mortgage of $140,000. If the house is currently worth $400,000, the owner has the ability to draw equity (or the difference) from the house for expenses such as school tuition, health situations, big purchases, etc.

This is one of the advantages of owning a home. Please contact Sean McCormack at 512-653-1213 or sean@realtyaustin.com for more information

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