Investing in a Home in Beverly Hills and Los Angeles
Investing in a Home in Beverly Hills and Los Angeles | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert
Investing in a home is a major way to build wealth and gain financial stability, and there are many great reasons to buy a home in Beverly Hills or Los Angeles. According to Freddie Mac, building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.
Did you know that owning a home is the largest source of wealth among families? According to the National Association of Realtors (NAR), the median value of a primary residence is worth about ten times the median value of financial assets held by families. Home equity gains are built up through price appreciation and by paying off the mortgage, which means that home equity does more to build the average household's wealth than anything else. This holds true across different income levels, according to data from First American.
In Beverly Hills and Los Angeles, homeownership provides even more financial benefits due to the strong real estate markets in these areas. With high demand for properties and limited inventory, home values in these areas have historically appreciated at a steady rate. In addition, owning a home in Beverly Hills or Los Angeles can provide access to prestigious schools, exclusive neighborhoods, and world-class amenities.
If you're thinking about investing in homeownership in Beverly Hills or Los Angeles, now is a great time to connect with a trusted real estate professional to explore your options. By taking advantage of the financial benefits of owning a home, you can build wealth and gain financial stability while enjoying all that these iconic cities have to offer.
Call Christophe Choo at (310) 777-6342 to tour your future home "HERE" or click "HERE" to estimate your home value