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Century21 Colonial Realty


Phone
(304) 258-3460
Fax
(304) 258-9409

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Century 21 Colonial Realty

92 North Washington
Berkeley Springs, WV 25411

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Leveraging Your Money

One of the greatest financial aspects of buying a home is the ability to leverage your money. Simply put, leverage allows you to use a small down payment and financing to purchase a larger investment. For example, if you bought a $125,000 home with 10 percent down, you leveraged the $12,500 down payment to purchase an asset worth 10 times that amount!

Appreciation
The benefits of leverage really become apparent with appreciation, or the rise in value of a property. Using the above example, say you were to live in the house for 5 years, and during that time property values in your area were to rise an average of 2.5 percent a year. Your home would then be worth over $141,000. By putting only 10 percent down, you get to enjoy the appreciation for the full amount!

Paying yourself
In addition to the 10 percent down, you'll also have to make mortgage payments. But with each payment, a certain amount of money is being used to pay down the principal balance that you owe. This is called building equity. So in the event you sell your house, not only can you realize a profit from your leveraged money, you also have a chance to pay yourself back for the money you've put in over the years. No wonder so many people consider a home an excellent investment!



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  Articles
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   Different Types of Loans
Refinancing
Closing Costs
Length of Your Mortgage
Saving for the Down Payment
Leveraging Your Money
How Mortgage Loans Work
When To Pay Points
   Adjustable-Rate Mortgages
How Much Can You Afford?
Getting Your Finances in Order
Your Credit History
Mortgage Glossary
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Century 21 Real Estate LLC supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. CENTURY 21® and the CENTURY 21 logo are registered marks owned by Century 21 Real Estate LLC and used by CENTURY 21 Century 21 Colonial Realty with permission. All other trademarks and service marks are the property of their respective owners. Neither Century 21 Real Estate LLC nor any of their respective franchisees affiliated companies provides any product or service described herein. Not all products and services are available in all states. All products and services are provided by the applicable service provider described herein.


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