While housing markets do cycle, home values tend to increase over the long-term, making them prudent investments, especially if a financial windfall can be gained when selling.
On average, most homes within Collin County appreciate or gain value at a rate of 3.5% to 4% per year, which makes real estate investing a good way to increase net worth, says Real Estate Broker Tonya Babers Dangerfield. Along with her husband and fellow Realtor, Nick Dangerfield, they work with Frisco regional home buyers and sellers as the Tonya Dangerfield Home Team via HomeSmart. Victor Lee, Realtor, and Ashley Dangerfield, Realtor, also are members of the team.
"Homeowners gain home equity as they pay down their mortgage and this is the No. 1 advantage of homeownership, with tax breaks and benefits, being a close second," says Tonya, who likens owning homes to having healthy savings and checking accounts to "live in," unlike stocks and mutual funds.
The "savings account" automatically grows as the home builds equity, she says. "If a homeowner needs liquid cash, they can pull those funds out of the equity in their home, in the form of a line of credit, a cash out refinance loan, or by selling their property."
Some of the best places to live enjoy proximity to parks, schools, entertainment and other amenities that many homebuyers seek out. For example, a University of Washington study showed homes located near a park or open spaces are valued between 8% to 20% higher than comparable homes.
Tonya says the Collin County housing market is still hot, and economists predicted it will heat up more in 2024 due to lack of prior inventory on the market.
Tonya Cell: 214.641.4491
Nick Cell: 214.690.2819
TonyaDangerfield.com
"Owning a home in Collin County is sure to be a lucrative and rewarding experience." ~Tonya Babers Dangerfield
