Growing Wealth with Your Oahu Home
Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Since the experts predict that home prices will increase by 5.0% this year alone, the young homeowners will have gained $12,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $49,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.
Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!
If you need any information about selling or about buying a home on Oahu, please contact me.
See you next time, MM
October 2, 2017
I have been interested in a smaller modest home there for years. My biggest question is how much it would cost to transport my car(an INFINITY with only 15,000 miles too nice to give up) and too much furniture to the Islands?
October 2, 2017
> Aloha Randy,
That is great that you thinking of moving here! (maybe :))
Depending on where you live on the mainland it varies in price. If you are on the west coast it runs about $1,000.00 if you are more east it will be more you can usually get your car in a few weeks. Furniture I would recommend selling before you move here and buy from here. Shipping containers range around $1,500-$3,000 depending on size. If you have any more questions would be happy to help. Best, MM