What Is Your Home’s Value?
Are you utilizing the equity in your home as a way to offset all the expenses? Don’t just accept these costs as the price for living there. Use your home to make rental income. This will turn it into a powerful, revenue-producing asset that builds your wealth.
In traditional financial terms, a house is like any valuable possession. It’s an asset; one that you expect to continue appreciating as you pay down the mortgage.
What do you get in return? Shelter for your family, and the hope that its equity will grow.
However, this major asset brings with it a lot of costs. Any expense in your life is actually a liability.
What if the value of this asset declines just as you are planning on selling your home? All that liability will have produced very little overall increase in your wealth. Instead, look at the estimated value of your home and leverage this equity.
Ask your FORTAX Financial Advisor to show you the wealthy way to think about home ownership. Learn how to generate rental income. Use yours to create revenue and this will offset all the expenses you incur.