Show Me The Equity!

January 17, 2012Financing
« Back to Blog

Why build a new home? Lots of reasons. Take an example of one family here in Pierce County, Washington State. Right before the crash in the latter parts of 2007/8 a True Built Home family was putting the finishing touches on a large rambler. At the time it appraised for over $500k. As the market collapsed, so did their “equity” in their home/investment. They recently refinanced to take advantage of historical low rates and it recently appraised for $420k. They lost nearly $100k in value. Now, how much equity do they still have? The houses’ original construction loan was 326k. So although quite a bit has happened in the market since 2007-2008, and even though this family paid a lot more for the land than they can obtain now, the family is still nearly $100k in the equity column. Now ask yourself, “how did the value of my home hold up?”

If you do not have an “on-your-lot builder” build your next home, will the one you purchase dip in value further? It is not unusual to have $20-150k worth of equity… even in today’s market.  Get ahead, never be upside down again in the house you love. Build a True Built Home and enjoy years of comfort both physically and mentally!

Contact us for more info on our current pricing.