The True Value of T homeownership: h Building long-Term wealTh B
Owning a home offers much more than simply providing shelter—it’s one of the most powerful ways to build longterm wealth. While the journey to homeownership can seem overwhelming, it's crucial to understand the significant advantages it holds over renting.
One of the most significant advantages of owning a home is the potential for property value appreciation, which can significantly increase your net worth and boost the future resale value of your home. On average, home values nearly double every 10 years—returns that outshine most other investments. While appreciation depends on factors like the economy and location, the national average hovers around 3.5% to 3.8% annually. Because buyers typically make only a small down payment, the return on that initial investment can be substantial, thanks to the power of leverage.
Homeownership also allows you to build equity, unlike renting, where monthly payments offer no ownership benefits. Remarkably, homeowners’ average household wealth is 1,469% higher than that of renters, even when home equity is excluded. Homeownership is truly a key to economic advancement, allowing you to invest in yourself and build wealth over time.
Equity—the difference between your mortgage balance and your home's value—is the largest source of wealth for many Americans. Plus, homeowners can take advantage of tax deductions like property taxes and mortgage interest, which are unavailable to renters.
Equity grows as your home's value increases, as you pay down your mortgage, or when you make a significant down payment. Additionally, making improvements to your home can further enhance its value and build equity.
Beyond the financial benefits, homeownership offers intangible rewards like a sense of pride, control over your living space, and a feeling of stability. Your home is not just an investment— it's a place where you can enjoy your life and create memories with loved ones. What other investment can provide that?
The best way to navigate your options and assess your situation is to visit with your favorite real estate professional. I am ready to guide you through the local market, help you find your dream home, and set you on the path to building long-term wealth.
Info from National Association of Realtors and Forbes Magazine
a home for eVery Child
With the earnings gap between college graduates and high school graduates widening—college grads earn 59% more annually—higher education remains a valuable but costly investment. The average annual cost for a student at a four-year, in-state university is about $27,000, totaling over $108,000 for four years. For those who take six years to graduate, which is the case for 97% of confirmed bachelor’s degree earners, the total cost rises to $229,620.
Tuition and fees vary widely by state. For example, in the 2021-22 academic year, Vermont had the highest in-state public university tuition and fees at $17,683, while Wyoming had the second-lowest at $4,929 (source: educationdata.org).
One of the most effective ways to finance these expenses is by investing in a rental property. With a 15-year mortgage on a $300,000 property (20% down, 6% interest), you can build substantial equity. Even at a 20-year amortization, the monthly might be more realistic, the option to pre-pay is typically available
If your child is already in college, purchasing a rental property can still be an excellent way to manage education costs. The property can serve as a residence for your student, and renting out additional rooms can generate income to help cover the mortgage. Investing in a rental property not only funds education but also builds equity and secures your financial future.
The smell of autumn is dancing on the breeze... it's a perfect time to make this decadent tart
Preheat oven to 425°. In a large bowl, combine flour, sugar, cocoa, spice, and salt. Stir in butter until crumbly. Press onto bottom and up side of a 9"tart pan with a removable bottom; place on baking sheet. Bake 10 minutes; cool on wire rack. Meanwhile, in another large bowl, whisk pumpkin, eggs, brown sugar, zest, spice, and salt. Slowly whisk in cream. Pour into crust. Bake 15 minutes. Reduce oven temperature to 350°. Bake until set, 40-45 minutes. Cool on wire rack. Place chocolate chips in a small bowl. In a small saucepan, bring cream just to a boil. Pour over chocolate; let stand 10 minutes. Whisk until smooth. Spread over tart; chill until set. If desired, garnish with crystallized ginger.
September
27th /THE LOUISE TAKEOVER (Pop Up kitchen Experience), 6:00pm, The Louise Event Venue
27th /DANCING WITH THE STARS - B&GC OF CHEYENNE, 5:00pm, Archer Event Center
28th /CELTIC THUNDER 7:30pm, Cheyenne Civic Center, cheyennepresents.com
28th /JIMMIE VAUGHAN 8:00pm, The Lincoln Cheyenne thelincolncheyenne.com
OctOber
4th/ARBORETUM FALL FOLIAGE WALK
Cheyenne Botanic Gardens 1:00pm to 2:30pm, botanic.org
4th/CHEYENNE ART WALK
The Hawthorne Tree, 5-8pm artscheyenne.com/cheyenne-artwalk
5th/BARK AND WINE Red Lion Hotel, 5:30-9pm bdar.org/2024barkandwine
Ingredients:
1 c all-purpose flour
3/4 c sugar
1/2 c baking cocoa
1 tsp pumpkin pie spice
1/2 tsp salt
1/2 c butter, melted
Filling:
15-oz can pumpkin
3 lg eggs
3/4 c packed dark brown sugar
2 tsp grated orange zest
2 tsp pumpkin pie spice
1/4 tsp salt
1/2 c heavy whipping cream
Ganache:
3/4 c semi-sweet chocolate chips
1/2 c heavy whipping cream
Crystallized ginger, chopped, optional
5th/CHEYENNE FARMER'S MARKET, 7am -1pm, Frontier Park
6th/COLTER WALL Cheyenne Civic Center, 7:30pm cheyennepresents.com
11th /CROCE ON CROCE Cheyenne Civic Center, 7:30pm cheyennepresents.com
12th /EMO NIGHT TOUR
The Lincoln Cheyenne, 7-11pm thelincolncheyenne.com
12th /KANSAS THE BAND Cheyenne Civic Center, 8:00pm cheyennepresents.com
18th /ART FOR ART/ AN ART IMMERSION EXPERIENCE The Lincoln Cheyenne, 7pm thelincolncheyenne.com
19th /CSO -MESMERIZING MELODIES, Civic Center, 7:30pm, cheyennepresents.com
Recipe from Taste of Home
ChoColaTe ganaChe pumpkin TarT
There's Only One #1 Years
#1 Properties’ "Find Your WY"
#1 Properties was established with a profound vision in mind — to become the foremost real estate brokerage in southeast Wyoming. We envisioned a company that would not only excel in providing exceptional real estate services but also actively contribute to the betterment of the communities we serve.
"In the Cheyenne region, #1 Properties is the finest example of a locally owned and operated business there is. Not only are they the best, they give back to the community through many different sponsorships. Guess that builds good karma, that makes them #1 in this region, way to go #1 Properties!" –T/SG
