Old School DESIGN: January 2021

Tuesday, January 12, 2021

52 Mobile Homes For Sale or Rent near Wichita, KS

Table of Content

Median Home Price in Wichita, KS
Eastside Homes
Sherwood Acres Manufactured Home Community
Mobile Homes for Sale near Wichita, KS
Why ModularHomes.com in Kansas?

If you have been finding it difficult to find a home in your price range in Wichita while saving for a down payment, a foreclosed home could be just the option for you. Foreclosed homes offer the opportunity to get into a home at a reduced price in exchange for potentially needing to make repairs and otherwise fix up the home. Below are a variety of homes either in some type of foreclosure or pre-foreclosure status.

With MHVillage, its easy to stay up to date with the latest mobile home listings in the area. With MHVillage, its easy to stay up to date with the latest mobile home listings in the Wichita area. With 68 floor plans available from these builders, you can choose the perfect size for your family with homes ranging from 784 square feet all the way up to 2,610 square feet. Starting out at only $34,995, the Kansas City market is one of the best locations to invest in and build a modular home. Download free brochures for all the plans you could see yourself living in, and contact the builder today.

Median Home Price in Wichita, KS

Explore our lists of discount government repo homes in Wichita, KS including single and multi family homes, condos, apartments and lands. Southside Home Center is a family-owned and operated dealership of manufactured and modular homes. Were the oldest and most trusted dealership in Wichita, Kansasweve served the city and its surrounding areas for over 16 years. Whether youre in the market for a modular home, manufactured home, used home, or repo, we can guarantee well get you the best deal, and provide you with the best service! Whatever your needs for a new home, we can help you meet themno matter how complex the floor plan, well ensure its custom built just the way you want it.

There are currently 40 new and used mobile homes listed for your search on MHVillage for sale or rent in the Kansas City area. Because modular homes are constructed within a factory setting, you can speed up the building process and diminish the potential for human error. There are currently 32 new and used mobile homes listed for your search on MHVillage for sale or rent in the Topeka area. Choosing how to construct your new home will be one of the most important decisions you can make.

Eastside Homes

A home keeps us safe from the elements and is where we live out our lives and raise our families. There are currently 4 repossessed mobile homes listed on MHVillage in 67031. YP - The Real Yellow PagesSM - helps you find the right local businesses to meet your specific needs. Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page. One of the most exciting things about shopping for a new modular or manufactured home is how many different styles and types there are to choose from.

Based in Grand Rapids, Michigan, MHVillage Inc. is the nation’s premier online marketplace for buying and selling manufactured homes with more than 25 million unique visitors annually. Last year, more than 80,000 homes were sold on MHVillage with a combined transaction value exceeding $3 billion. Quality-built estate size family home features sprawling living room open to beautiful modern well equipped kitchen adjoin...

Sherwood Acres Manufactured Home Community

Park model homes are one of the newest and most quickly growing trends in prefab housing. These are smaller homes perfect for home buyers that want a vacation getaway or wilderness retreat. In fact, there are specialty park model log cabin homes designed to look exactly how the name implies – perfect for placement in the heart of nature. No matter where life’s adventure takes you, there’s a modular home style that can make the journey a great one. Whether you’re looking for manufactured or modular, new or used, or land or financing, it’s our pleasure to help you and your family choose, purchase, and move into a new home you’ll love. Southside Home Center is the only family-owned manufactured and modular home dealership serving Wichita, Kansas and its surrounding areas.

Are you considering buying a Sunshine Homes manufactured home, modular home, or mobile home in the state of Kansas? Manufactured homes that are built for Kansas residents are constructed with energy-efficiency and minimal maintenance in mind. Kansas, known as the Sunflower State, is located in the center of the United States and borders Nebraska, Missouri, Colorado, and Oklahoma. Whether youre looking for manufactured or modular, new or used, or land or financing, its our pleasure to help you and your family choose, purchase, and move into a new home youll love. Impresa Modular consults with you to develop a plan that can include virtually any aspect you desire. Today, top architects are adopting modular construction and designating it to provide the stylish and trendy homes that their clients expect.

When youre all set, we can deliver your home up to 250 miles from our location! In addition, we buy and sell mobile and manufactured homesgive us a call to set up a quick proposal, and well pay you top dollar. At Southside Home Center, we never compromise on the quality of the homes we offer you. These home builders begin with the best building materials available, and construct their homes in state-of-the-art, climate-controlled facilities. This enables them to build their homes to HUD or IRC building codes quickly, efficiently, and precisely.

You can explore the mobile home dealer in Kansas City, and get driving directions to the most convenient sales center. If there are any problems with modular homes for sale in kansas,Please check if your account is eligible for this offer. If you dont remember your personal data, please send an email to customer service. If you still cant find the information you want below, please try to search again in the search box in the upper right corner.

Kansas Manufactured Homes & Modular Homes Sunshine Homes

Whether you’re in Wichita or anywhere else in the country, modular construction is the modern solution for flexible, affordable, quality-built housing. Browse through hundreds of modular and manufactured home floor plans from premier manufacturers and local builders. If you’re looking for a turnkey home, we’re proud to offer lot models and used homes that are ready for you. Southside Home Center can also provide you with free on-site estimates, financing for the land and home package of your choice, and dealer warranties.

The property was foreclosed and repossessed by a lender when the owner failed to make payments. Since banks are not in business to own homes, they are usually interested in selling foreclosed homes quickly at attractive low prices. A list price is published but reasonable offers can be submitted for consideration. Offers can be submitted through the official Listing Agent but in some cases, no agent is listed and offers can be submitted the bank owner directly.

Southside Home Center commitment to its customers’ shopping experience and satisfaction is exemplified by our adoption of revolutionary, innovative 3D Virtual Home Tour technology. We invite every customer to step inside and experience it for themselves. All other marks contained herein are the property of their respective owners.

We’ll discuss what you’re looking for, help you find a home you love, customize it, acquire land and financing, and ensure your home is delivered and set up promptly and professionally. If you’re planning on purchasing a new modular home in Kansas, take a minute to make sure you have all the information you need to make an informed buying decision. Check out some of our most popular articles about home types, construction methods, and financing. With 60 years of combined experience, we can guarantee that youll get the best deals and the best service when you shop with us.

Best 26 Repo Modular Homes For Sale in Wichita, KS with Reviews

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Cottonwood Grove Mobile Home
W SUNNYBROOK ST, Wichita, KS, 67217
Popular Zip Codes in Wichita, KS
New And Used Mobile Homes Near Leavenworth Ks
Luxury Homes For Sale In Honolulu Hawaii

Finding a qualified lender to finance your new modular home is just as important as the purchase of the home. ModularHomes.com has used decades of industry experience to make it simple for you to find financing for your prefab home, regardless of home type or moving location. We even have lenders that specialize in specific financing programs like mobile home loans, so regardless of what home you buy, you’ll be in good hands. Unlike traditional lenders or banks, these lenders know the factory-built housing industry and will get you the right loan in Kansas.

Cottonwood Grove Mobile Home

W SUNNYBROOK ST, Wichita, KS, 67217

With your choice of 924 unique modular home floor plans offered by 9 modular home builders, you’ve got plenty of options to explore. Southside Home Center is a family-owned and operated dealership of manufactured and modular homes. We’re the oldest and most trusted dealership in Wichita, Kansas—we’ve served the city and its surrounding areas for over 20 years. Our friendly, professional staff boasts 60 years of combined industry knowledge and experience. Whether you’re in the market for a modular home, manufactured home, used home, or repo, we can guarantee we’ll get you the best deal, and provide you with the best service! Whatever your needs for a new home, we can help you meet them—no matter how complex the floor plan, we’ll ensure it’s custom built just the way you want it.

If youre in the market to purchase a home, or considering building one, you may be aware that modular homes are a popular option. Simply put, modular homes have sections that are built in a factory, rather than being fully built on a home site. These parts are then transported to the site and assembled by a builder. As you browse the options available in Kansas City, you will quickly discover there are 1 builders offering modular, manufactured, or mobile homes for sale in your area.

Popular Zip Codes in Wichita, KS

Affordable Mobile Home Service

But more and more, the interest in modular housing is growing among American homebuyers. With MHVillage, its easy to stay up to date with the latest mobile home listings in the Topeka area. With MHVillage, its easy to stay up to date with the latest mobile home listings in the Leavenworth area.

If you have been discouraged by the current housing marketing, you are not alone. That's why many people are considering purchasing a foreclosed home as a viable path to homeownership. In Wichita, KS, there are some fantastic foreclosed home options available.

With MHVillage, its easy to stay up to date with the latest mobile home listings in the Kansas City area. When browsing homes, you can view features, photos, find open houses, community information and more. You can also narrow your search to show specific types of homes using the sort and filter options available. Modular homes also often known as factory-built, prefabricated, or systems-built homes still only represent about 1.5% of all manufactured homes in the U.S.

When you demand quality but require value, modern modular construction delivers. Impresa Modular is the only nationwide builder of modular homes in the U.S. and we lead the industry in innovation. Our process reduces overhead, keeps your custom home project on schedule and produces high-quality custom built homes. When it comes to buying a home, the real estate industry is full of options.

New And Used Mobile Homes Near Leavenworth Ks

With 60 years of combined experience, we can guarantee that you’ll get the best deals and the best service when you shop with us. When you shop for a new home, you want to know that the folks you’re shopping with have your best interests at heart. Our friendly, professional team at Southside Home Center takes this seriously, and we won’t rest until we’ve helped you achieve your dreams of owning your own home. When you shop with us, you can count on our staff to be there for you along every stage of your journey towards home ownership.

Luxury Homes For Sale In Honolulu Hawaii

There are currently 114 new and used mobile homes listed for your search on MHVillage for sale or rent in the Leavenworth area. There are currently 60 new and used mobile homes listed for your search on MHVillage for sale or rent in the Wichita area. There are currently 52 new and used mobile homes listed for your search on MHVillage for sale or rent in the Wichita area. We understand that choosing a place to live is almost as important as choosing a modular or manufactured home that’s right for you. Compare the average cost of a traditional stick-bult home in Wichita with that of a prefab home, and see why factory built is the right choice. We also have lots of helpful links that can help you explore Wichita and get a better idea of what it’s like to live there.

Our friendly staff maintains a broad knowledge of our inventory, including the many features, options, and customizations available to each floor plan. Once you decide on a home you love, we’ll help you customize it to suit your personal style, taste, and budget. This is one of the most exciting stages of buying a new manufactured home or modular home—the possibilities are endless! We love to help folks personalize their new homes, and we strive to ensure every customer is fully satisfied with their home and its unique options before its final sale. If youre looking for a turnkey home, were proud to offer lot models and used homes that are ready for you. Its our goal to help you along every step of your home buying process with attention and care, from start to finish.

Monday, January 11, 2021

How to Build Home Equity in Your Home

Table of Content

Ways to Build Your Home Equity (and Savings) Faster
Prioritize paying off your mortgage faster
How soon can you pull equity out of your home?
Build Additions
What happens to the equity in my house when I pay it off?

Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Kim Porter is a former contributor to Bankrate, a personal finance expert who loves talking budgets, credit cards and student loans. When she's not writing or reading, you can usually find her planning a trip or training for her next race.

The way to build your home equity is by making consistent mortgage payments over the years. The longer you pay off your mortgage, the more equity you'll have in your home. With a larger down payment, you can get into a more expensive home because your mortgage & monthly payment will be lower. Saving up for a larger down payment is a great way to start your home ownership journey with more equity.

Ways to Build Your Home Equity (and Savings) Faster

While we adhere to stricteditorial integrity, this post may contain references to products from our partners. But you may want to accelerate the process and build equity more quickly. If you just keep making payments on time, you build momentum. You then make increasingly large principal payments throughout the process, without even trying. Routine maintenance is tedious , but a home that’s falling apart is not appealing to potential buyers. If you fail to address maintenance issues like leaks and deteriorating roofing, your home equity may decrease over time.

Whatever you decide to do, remember that these are just a few of the ways in which you can acquire more equity. Take your time and study the options available to you within your finances. If early payment of your mortgage simply isn’t possible, incorporate some of the other budget-friendly adjustments or see if a refinance is the choice for you. You can also tap into real estate equity to take out a blanket loan instead of making a down payment. The lender secures a lien against your property with equity in it, in lieu of requiring a down payment.

Prioritize paying off your mortgage faster

You can check your home’s value using an online home price estimator or by consulting a professional appraiser. Making improvements to your home can also boost its value more quickly, and therefore your equity. Just keep in mind that you likely won’t recoup all the money you put into home projects. Some projects offer more return on investment than others. The project that offers the greatest return on your investment is a garage door replacement, which provides a 93.3 percent return.

Let’s assume your home has appreciated by 4% each year, and that you made a 10% down payment of $50,000, and you’ve been making monthly payments since then . The more your down payment is, the more your financial stake in the house is, right from the beginning. If you look outside of your house, there are other things you can do to build your homes value and increase your equity. By revamping the landscaping around your home, you can give your home a beauty that will justify a higher price tag.

How soon can you pull equity out of your home?

When you take out a line of credit or HELOC, you have a draw period when you can withdraw the cash you need when you need it and make interest-only payments. You then have a repayment period during which you pay back both interest and principal. Building equity in your home gives you more financial options. In order to pay for the rest, you got a loan from a mortgage lender. This means that from the start of your purchase, you have 20 percent equity in the home’s value. The formula to see equity is your home’s worth ($200,000) minus your down payment (20 percent of $200,000 which is $40,000).

But add just $100 a month to your payment, and in five years you will have $23,143 in home equity. Mortgage lenders prefer that you have at least 15% to 20% of equity built up in your home before they'll let you borrow against it. For the average homeowner, it can take about five to 10 years to build that amount of equity. Marc is senior editor at CNET Money, overseeing banking and home equity coverage. He's been a financial writer and editor for more than two decades, working for The Kiplinger Washington Editors, U.S. News & World Report, Bankrate and Dow Jones. Before joining CNET Money, Wojno was Senior Editor of Finance for ZDNet, writing on blockchain, cryptocurrency, financial services, investing and taxes.

Build Additions

Your home value rises when prices in the neighborhood and there is more demand. You’ll increase your odds of an equity boost if you stay in your residence for at least 5 years. You don’t have much control over this, but it’s still good to keep in mind. You can check your home’s value by using an online tool or consulting an appraiser. Stick with smaller projects you can pay in cash, like painting walls, updating light fixtures, or replacing a garage door.

And while you don’t have much control over those, you can affect your home’s market value in a positive way by keeping your home well maintained and putting in certain improvements. For example, if you own a property worth $150,000, and you owe $100,000 on the mortgage, you have $50,000 in equity. Learn the ins and outs of a home equity loan vs. a home equity line of credit to decide which option is best for your financial goals. Life happens, and if your emergency fund is a little low right now, a home equity line of credit may be a good backup plan. You don’t have to use the funds unless you need them.

What is home equity and how can you use it?

If you can pay $100 or $200 more towards your home loan each month, you'll reduce the amount of interest you pay over time on your mortgage. Take the time to understand the terms of your mortgage and how your money will be used to pay back your loan to your lender. If you make extra payments at the beginning, however, every penny would go towards the principal of the loan. This not only lowers your principal balance and creates equity, but it also saves you interest.

There are a variety of ways to build equity in your home more quickly. The process generally involves taking steps to either increase your property’s value or decrease your mortgage debt, or some combination of both. You are more likely to make a profit when you sell the home. You don’t want to find yourself “upside down” in a home, owing more on the property than you can recover in a sale.

This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. If you’re fortunate, home values in your market could increase over time without any action on your part. That’s most likely to happen in attractive neighborhoods or growing towns. Many or all of the products featured here are from our partners who compensate us.

This could include consulting with a real estate agent or another home professional to identify renovations that provide the most return. The goal is to avoid putting too much money into renovations that offer little to no increase in your home’s value. An expert can help you sort through the options and select projects and even finishes and appliances that provide the most reliable payoff for your efforts.

Suzanne De Vita is the mortgage editor for Bankrate, focusing on mortgage and real estate topics for homebuyers, homeowners, investors and renters. The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. You can take an active or passive approach to building equity, depending on your goals, your resources, and your luck. Receive cash after you sell the home and pay all related costs.

29 Free DIY Pizza Oven Ideas How to Make a Pizza Oven

Table of Content

How to Build Your Own High-Performing Wood-Fired Pizza Oven from Bricks
Build This Propane-Fired DIY Pizza Oven
How Do Pizza Ovens Work?
How to Make Pizza at Home That's Better Than Takeout

Fresh mozzarella has a lot of water content and could make surrounding crust and toppings soggy. Once it is out of the oven, top with 3 or 4 generous slices of Bresaola, then some rocket leaves, shave some good quality parmesan on top and drizzle with truffle oil. Semolina acts as a barrier and stops the dough from sticking to the surface, creating a great chewy crust.

The sleek, round stainless steel design will look great with any outdoor setup, and the kit gives you everything you'll need to cook. For many homeowners, a stone and masonry pizza oven is the pride and joy of a fabulous outdoor dining and entertainment area. An outdoor pizza oven clad in brick and natural stone has a sturdy, authentic feel to it, and can be designed to look rustic or modern. Like a barbecue grill or an outdoor kitchen, a permanently installed outdoor pizza oven can be a year-round gathering place for friends and family. When you have a pizza oven outside your home, it’s like having an additional kitchen.

How to Build Your Own High-Performing Wood-Fired Pizza Oven from Bricks

Let the concrete rest for a few days to get a dry surface, you can check if it is still wet or not by the dark spots on it. On the location you have chosen, take the pallets out and lay them down. Make sure the ground is even so that your base as well as your oven will not be affected during your usage. Oil serves to keep the finished pizza tender, since it lubricates the gluten network to keep it supple, even after a relatively long bake. Contact usor check out our Blog section for more ideas and inspiration.

Take accurate measurements, mark them down on a piece of paper, and then sketch your plan for the building process if needed. However, if you’re looking for a step-by-step guide and plans for a pizza oven, you might as well skip this blog. The outside was plastered with perlite plaster to insulate it. This required a bit of skill since the perlite mixture is very dry and tends to fall off if not applied correctly – we patted it on by hand.

Build This Propane-Fired DIY Pizza Oven

While not very complicated, making a domed oven is a big step up in terms of skill, tools, time, and effort. This continues until you can reach the very top of the dome. A large beach ball or exercise ball can also be inserted into this unfinished dome to help support the shape of your bricks being added. It will need to be deflated once this dome is complete. These little things, which have really blown up over the past decade, make charred Neapolitan style pizzas incredibly easy to perfect.

how to build your own pizza oven at home

He explains the materials and building process pretty clearly. So, if you’re up for the challenge, here’s part-2 and part-3 of the tutorial. Other questions that you might have are how does an outdoor pizza oven work if the ground meat is frozen? This may seem counterintuitive, since the device should only need warm air to cook the pizza.

How Do Pizza Ovens Work?

Four red bricks stacked in a circle along the top of this arch will serve later for the support of a chimney stack pipe. This is when you start to circle your red bricks around the border of the firebrick base using fire clay mortar. Cut your bricks in half so you can create a circle shape much easier. Your bricks need to be cut at each corner so each brick will better follow the circle lines, but be sure to leave enough room for the entrance door.

The first but also very important thing in the project of how to build an outdoor pizza oven, you need to prepare some tools and materials. That is the end of this article, in which we have shared with you necessary information and step by step to help you build your own outdoor pizza oven at home. Hopefully after reading this article, you will be confident to start making the pizza oven and enjoy pizza time with all your beloved ones.

This will push the clay over the sides of the tarp and create a smooth surface for your new cobblestone. Some natural builders prefer to use sawdust as a surfacing material. This is fine, just be sure you wash off the saw dust after each use.

While building his pizza oven Simon started a blog about the project and the food he was cooking in the oven. Soon, would-be oven builders got in touch from all over the world, sharing photos of their ovens and swapping tips. Eventually he put all his experience into an e-book called How to Build a Traditional Wood-fired Clay Pizza Oven.

It needs to be 80cm in diameter at the bottom and 40-45cm high. Keep checking on it from above to make sure it’s round. When it’s finished, cover with wet newspaper to stop it drying out while you puddle the clay . If you can stack bricks one on top of another, then you have all the skills you need to build a brick DIY pizza oven.

One focuses on the ovens and cooking at high temperatures. The other looks at using the residual heat for cakes, pastry and slow-cooked pork and lamb. Once you’ve finished your oven, be sure to check out our guide to different things to cook in a wood pizza oven to give you some different ideas.

We’ve uncovered the myths and mysteries and can give you great tips on how to build a wood-fired pizza oven in your backyard very easily. Little secret, the makers of the hottest fire pit of the moment also make a great pizza oven starter kit. It burns wood when you want to do the whole thing, and gas when you're strapped for time, both with great results.

This will keep the flue in place and prevent the mortar from dripping through. Put the flue in place and fill the area around it with Vesuvius. Once the floor is fully dry, put the dome on top of it and fill the gap between the two with Vesuvius refractory mortar. Using your hands, cover the entirety of the form you just built, right up to the lip at the front of the arch.

Detailed Instructions On How To Build An Outdoor Pizza Oven

So you could, hypothetically, drop the temp way down and cook a brisket low-and-slow. It’s not complicated, but you will want to do a few test runs before you invite family and friends over for a pizza party. You will need to play with temperature, which is why it’s so important to have an infrared thermometer.

How To Build Equity in Your Home in 10 Steps

Table of Content

Ideal Agent Reviews – Everything You Need to Know (
What Should I Know Before Moving to Cedar Rapids, Iowa?
Bankrate logo
Reader Q&A

Play the long game - Though waiting for home values to rise is completely out of your control, by that same token this method is also completely effortless on your part. As people have become more reticent to sell their homes, preferring to update and remodel, the housing market is seeing values rise beyond projections. We sometimes offer premium or additional placements on our website and in our marketing materials to our advertising partners.

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site . LendingTree does not include all lenders, savings products, or loan options available in the marketplace. LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site . Any time you receive a tax refund, a bonus at work or a cash gift, put it toward your mortgage balance.

Ideal Agent Reviews – Everything You Need to Know (

We are an independent, advertising-supported comparison service. If the result is a negative number, the home is worth less than the amount you owe on it, and you have negative ("upside down") equity. David J. Rubin is a fact checker for The Balance with more than 30 years in editing and publishing. The majority of his experience lies within the legal and financial spaces. At legal publisher Matthew Bender & Co./LexisNexis, he was a manager of R&D, programmer analyst, and senior copy editor.

What Should I Know Before Moving to Cedar Rapids, Iowa?

Check your budget to see how much extra you can realistically put toward your mortgage every month. For example, if you just paid off your car loan, consider putting that extra $250 toward the mortgage every month. Home equity is the portion of your home that you own, calculated by subtracting your mortgage balance from the home’s market value. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate.

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The standard down payment on a house is 20%, though many people put down more or less than that. If you have the cash and you’re looking to increase your equity as quickly as possible, it’s worth it to write a bigger check up front. Not only will you lower your interest and monthly payments, but you’ll also be that much closer to owning a positive stake in your home. If you want to build equity more quickly, then a shorter-term mortgage is a good option. The benefits to these shorter mortgages is that you’ll pay lower interest rates and build equity in your home faster. The downside is that each mortgage payment will cost you more.

Not to beat the same drum, but everyone wants to live in an attractive, updated home. In fact, boosting curb appeal has the highest rate of return on investment out of all remodeling and renovations you could choose. Real estate equity offers multiple benefits to you as the owner, depending on your goals. You’ll have the opportunity to sell the property for capital gains of course, since that equity is essentially going into your pocket as a nice check at the time of sale. Although your ultimate goal should always be to have a mortgage-free home, building equity in a home is good because there are some financial goals you can accomplish with it.

Reader Q&A

To find out more about how we make money and our editorial process, click here. To find out more about how we make money and our editorial process,click here. To that end, you should know that many advertisers pay us a fee if you purchase products after clicking links or calling phone numbers on our website. G. Brian Davis is a real estate investor and writer who, along with his wife and daughter, spends most of the year overseas. He loves hiking, exotic wine, travel, and food, not necessarily in that order.

If you are paying $1,073 monthly towards the principal and interest of your 30-year mortgage, you will pay $1,581 for a 15-year mortgage. Your home equity increases in proportion to your mortgage payment. The more and faster you pay your mortgage, the higher your home equity will get. If you refinance your mortgage from a 30-year plan to 20 or 15 years, your home equity will start to build much faster.

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Putting down more money will instantly boost your equity. Make extra payments towards the principal every month. Ensure with your lender that your payment will go towards the principal and not the interest. A larger down payment is the simplest and most basic way to increase your home equity.

If that is the case, you’ll lose some of your equity. Additionally, that extra money spent can put a strain on your current resources. A bigger down payment not only means less principal to pay off, it also means less interest over time. For example, pretend you are buying a home for $150,000. You have a choice between a 10 percent or 20 percent down payment.

A low rate, combined with the fact that you’re paying interest for fewer years, means you’ll spend less on interest and save money over the life of your loan. Any and everything extra you choose to put into your mortgage builds real estate equity faster. Things like tax refunds, bonuses, gifts, and more can all be applied to your mortgage and will work to pay it down faster and build equity in a home. This strategy can work as an alternative to a 15-year mortgage because it leaves you the option to pay the lower monthly payment, in months when you’re stretched thin.

House Hacking

For example, if your home is worth $400,000, and you have $100,000 left to pay on your mortgage, then you have built up $300,000 worth of equity. Your equity will fluctuate with each mortgage payment and with any movement in the broader housing market. If you don't want the commitment that comes with a 15-year mortgage or increasing the size of your payment, look for cash that dribbles in here and there. Dedicate overtime pay, bonuses or every other bonus to building equity. A home is usually the single largest investment someone can make. So why not try to improve your home to increase the equity that may be building.