Address:
Toll Free:
Local:
Fax:
Toll Free:
Local:
Fax:
2902 West University
Durant, OK 74701
800-880-6206
580-924-6206
580-924-5229
Durant, OK 74701
800-880-6206
580-924-6206
580-924-5229
As a fairly general rule, homes appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.
Five percent may not seem like that much at first. Stocks (at times) appreciate much more, and you could easily earn over the same return with a very safe investment in treasury bills or bonds. But take a second look.
Presumably, if you bought a $200,000 house, you did not pay cash for the home. You got a mortgage, too. Suppose you put as much as twenty percent down - that would be an investment of $40,000.
At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your annual "return on investment" would be a whopping twenty-five percent.
Your rate of return when buying a home is higher than most any other investment you could make.
Here are some basics to consider when you're deciding where you want to live:
- Proximity to work centers, highways, public transportation and other transit will have a great impact on your quality of life.
- Basic services should be easily accessible, like grocery stores, restaurants, post offices and dry cleaners.
- Hospitals and medical care should be within a reasonable driving distance.
- Proximity to parks and recreation facilities is helpful, especially if you have kids.
- Find out the quality of local schools, nursery schools and colleges.
- Above all, look for a friendly neighborhood that instantly makes you and your family feel welcome.
