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Property Appreciation

      Most people who rent a home are probably paying less each month for housing than they would pay for a mortgage on a similar home. Why are people willing to pay more each month to own their own home?
      A home grows in value over the years. The rate of appreciation depends on many factors--the location, interest rates, and the general economic climate in the community. If you purchase a property for $100,000 which grows in value at the rate of 5 percent each year, it will be worth approximately $121,000 at the end of five years. At a 10 percent annual rate of growth, the value of your investment will go up to $146,000. As rent increases for those who lease a home, your payments (with a fixed-rate mortgage) will remain constant for the life of your mortgage, and the value of your home increases as you build up equity.

This Las Vegas Real Estate tip provided by your Las Vegas, Nevada Real Estate Agent - Kent Ottmann.  To visit my site for more on Southern Nevada, Summerlin, Green Valley, Henderson, and Las Vegas Real Estate - Click Here Kent Ottmann is here for all your Las Vegas Real Estate Needs.