#building equity

[futureassetsgroup]

Building equity in your home is one of the most significant financial benefits of homeownership. Home equity represents the portion of your property that you truly own, which increases as you pay down your mortgage and as your property’s value appreciates. For Canadian homeowners, understanding how to build equity over time can lead to substantial financial advantages. Here’s a guide on how to effectively build equity in your home.

[mymyproperty]

Rent vs. Own: Busting Myths and Building Your Future

Ever feel stuck in a rent cycle? Each month, a significant chunk of your income disappears into someone else’s pocket, leaving you with no ownership stake. Many people fall into this trap, but there’s a better way! My Story: From Renter to Homeowner For years, I believed in the “work hard, get rich” mentality. Countless jobs later, I was left with little to show for it. The turning point came…

[cindybanksteam]

What Does It Mean to Build Equity?

If you own a home, one of the benefits compared to renting is that each month you’re making mortgage payments, so you’re building an asset which is equity. Equity refers to the amount of your home that you truly own after you take into account the debt you owe.

To calculate your current equity, you should subtract your loan balance from your home’s market value. 

If the number is negative, then your home is worth less than what you owe on it. That means you have upside-down equity.

This is obviously not the goal. The goal is to grow your equity over time as you pay your loan. Until you pay off your mortgage, even though you’re considered a homeowner, your lender still has an interest in your property.

You own your home, but it’s collateral for your loan.

How Does Equity Work?

If you bought a home for $200,000 and you put down $40,000, which would be a 20% down payment, you would then have a home equity interest of 20% of your home’s value. You own the $40,000 of your home right off the bat because of your down payment.

If your home value goes up over time, then while your loan balance could stay the same, your equity could go up. If you bought your home and the market spiked, so your home was worth $400,000, you’d still owe only $160,000, meaning you’d have gone from owning 20% of the home to 60%.

How Can You Build Equity?

The primary way you increase your equity is by paying off your loan.

If you have a standard amortizing loan, that means you’re making equal monthly payments. Those payments in this scenario go toward the interest and principal. Over time the amount that’s going toward your principal goes up. Each year that you own your home and pay your mortgage means you’re gradually paying it off faster.

You can also grow your equity by working to increase the value of your home. Home prices do tend to rise in a healthy economy on their own as long as the real estate market is doing well, and you can speed that up based on the work you do to your home.

You can also make accelerated payments on your mortgage. Most of the time as a homeowner, you’ll make 12 payments a year. If you split a payment into two equal amounts and send it every two weeks, you end up making 26 payments a year. That ends up being the same as having paid 13 monthly payments, so you’re taking some interest off the total life of your loan.

You’ll be able to pay your mortgage faster and build equity more quickly too.

Using Home Equity

The equity you have in your home is an important asset, and it’s calculated as part of your net worth. You can use your equity in different ways.

If you sell your home, then you’re taking the equity you have in your home from the sale.

You can also get a loan against your equity. This is known as a home equity loan or second mortgage.

Overall, having a mortgage is sometimes viewed as forced savings. Each month that you’re making a payment or perhaps multiple payments, you’re building equity or building the value of an asset. It’s like adding money to a savings account but instead of your asset being cash, it’s your home’s equity.

[square-enix]

“we see that you have savings and a dual income and good credit and already pay more to rent than you would to pay this mortgage monthly but what really matters to us is the income you were making 2 years ago for some reason” - banks

[mckittericks]

Home ownership actually kind of sucks.

As in, sucks your bank account.

[ivygorgon]

AN OPEN LETTER to THE U.S. CONGRESS

Protect IVF! Pass HR 7056 / S. 3612 the Access to Family Building Act!

796 so far! Help us get to 1,000 signers!

As a concerned constituent, I’m emailing to urge you to cosponsor H.R. 7056 / S. 3612 the Access to Family Building Act and demand it receive a vote.

The Alabama court ruling on IVF shows we need federal protection for the right to access IVF and other services that help people start or grow a family. The Access to Family Building Act would do that and protect families and doctors from criminalization. Will you sign onto this bill and publicly call for a vote on it? I will only support lawmakers that actively fight for reproductive freedom.

▶ Created on April 18 by Jess Craven · 795 signers in the past 7 days

📱 Text SIGN PINHHO to 50409

🤯 Liked it? Text FOLLOW JESSCRAVEN101 to 50409

[ferociouslycreativemystery]

Me: I'm fine about my autism now btw, like I've come to terms with my fixated interests, limited tolerances and social inabilities. The alienation it brings is not ideal but it's just a reality I've gotta deal with now that I know it's just a part of who I am. I mean, it's not like an awkward conversation is gonna ruin anyone's life, is it? We'll both move on from it eventually. This is fine!

Also me: physically unable to watch beyond the first word of the first question of The Assembly because oh my god what if someone says something awkward or controversial or someone can't make themselves understood people are gonna get mad and scream about it online and I will freeze up and be stuck in the backlash forever I don't know how to handle conflict AT ALL let's just hide in the corner behind the sofa instead wait what if I became a hermit actually yeah yeah yeah that sounds good let's do that

[faithfromanewperspective]

can’t wait for the everlasting debate ‘but doesn’t feminism mean you treat women the same so if you’re gonna hit people you can hit women’ to turn to other marginalised groups too. like if it’s okay to call a white person a stupid white bastard we wanna treat people of colour the same right—

[sassmill]

When the vibes of the trailer home you’re looking at are just so rancid that the Zillow app literally crashes

[darkobssessions]

Just talked for 24 minutes straight without taking a breath

I feel like the most important person in the world (sarcasm)

The reason I know my hypomanias are not entirely delusional is because I make progress on the same material from high to high, downloading further sequences of the code

This sounds like gibberish to you

I'll let you decode it

By the time you get even remotely close

I'll have rewritten it

I've got lyrical, sensual, real and terrible

There's beauty, there's bold there's old there's dead in the ground cold

My heart is within me

But its boundaries are wider than me

Making the whole world my house, everybody it it my spouse, next of kin, children and mouse in the garden, creatures big small, plain or mysterious my companions and this earth our home, a place of our own, habitat and humanity

Peace and promise finally in a hand to hand conversation that didn't end with a gun shot or a stab wound, a ripping of countries and families and people apart

But in I see you see me kind of way, I see you see me and I see me see you, we are not equal, and this is what tripped us up even when we escaped your grasp

We are not equal because we are different. And different does not mean the same property or possibility

Different means we can protect ourselves, and we can survive, and challenge and change and understand and become

Different means we can come together

Different means we can reset the table and really relearn

Different means not for some people and that's okay, if you leave all well alone aside from that

It's not hard to set the wrongs right with a single step at a time of understanding

A bridge burned, if it is the right one, is an incredibly freeing experience

From now on, what sort of behaviour is going with me through this portal?

What am I bringing to the dinner we will have after all is said and done?

What will I give my generational line to inherit to pull out and pass around that table?

What kind of world am I building?

What kind of person am I sending out for the battle?

Do I have a just cause?

Am I being bullied into silence?

Are innocents affected?

Can I stomach ignoring my gut?

What will I have to give up if I choose to say nothing now?

Will I be less present, less interested, more passive, more bored or lonely if I do not act in some way?

Is it worth it?

What's more worth it?

[jcmarchi]

Troy Van Voorhis to step down as department head of chemistry

New Post has been published on https://thedigitalinsider.com/troy-van-voorhis-to-step-down-as-department-head-of-chemistry/

Troy Van Voorhis to step down as department head of chemistry

Troy Van Voorhis, the Robert T. Haslam and Bradley Dewey Professor of Chemistry, will step down as department head of the Department of Chemistry at the end of this academic year. Van Voorhis has served as department head since 2019, previously serving the department as associate department head since 2015.

“Troy has been an invaluable partner and sounding board who could always be counted on for a wonderful mix of wisdom and pragmatism,” says Nergis Mavalvala, the Kathleen and Curtis Marble professor of astrophysics and dean of the MIT School of Science. “While department head, Troy provided calm guidance during the Covid pandemic, encouraging and financially supporting additional programs to improve his community’s quality of life.”

“I have had the pleasure of serving as head of our department for the past five-plus years. It has been a period of significant upheaval in our world,” says Van Voorhis. “Throughout it all, one of my consistent joys has been the privilege of working within the chemistry department and across the wider MIT community on research, education, and community building.”

Under Van Voorhis’ leadership, the Department of Chemistry implemented a department-wide statement of values that launched the Diversity, Equity, and Inclusion Committee, a Future Faculty Symposium that showcases rising stars in chemistry, and the Creating Bonds in Chemistry program that partners MIT faculty with chemistry faculty at select historically Black colleges and universities and minority-serving institutions.

Van Voorhis also oversaw a time of tremendous faculty growth in the department with the addition of nine new faculty. During his tenure as head, he also guided the department through a period of significant growth of interest in chemistry with the number of undergraduate majors, enrolled students, graduate students, and graduate student yields all up significantly.

Van Voorhis also had the honor of celebrating with the entire Institute for Professor Moungi Bawendi’s Nobel Prize in Chemistry — the department’s first win in 18 years, since Professor Richard R. Schrock’s win in 2005.

In addition to his service to the department within the School of Science, Van Voorhis had also co-chaired the Working Group on Curricula and Degrees for the MIT Stephen A. Schwarzman College of Computing. This service relates to Van Voorhis’ own research interests and programs.

Van Voorhis’ research lies at the nexus of chemistry and computation, and his work has impact on renewable energy and quantum computing. His lab is focused on developing new methods that provide an accurate description of electron dynamics in molecules and materials. Over the years, his research has led to advances in light-emitting diodes, solar cells, and other devices and technologies crucial to addressing 21st-century energy concerns.   

Van Voorhis received his bachelor’s degree in chemistry and mathematics from Rice University and his PhD in chemistry from the University of California at Berkeley in 2001. Following a postdoctoral fellowship at Harvard University, he joined the faculty of MIT in 2003 and was promoted to professor of chemistry in 2012.

He has received many honors and awards, including being named an Alfred P. Sloan research fellow, a fellow of the David and Lucille Packard Foundation, and a recipient of a National Science Foundation CAREER award. He has also received the MIT School of Science’s award for excellence in graduate teaching.

[darlingkeyzblog]

How to Build Equity in Your Rental Properties: Strategies for Growth

Building equity in rental properties is a key strategy for long-term wealth creation. Equity not only increases the net worth of your assets but also opens up opportunities for refinancing, expansion, and enhanced cash flow. But how exactly can you build equity more effectively in rental properties? Here are some proven strategies for growing equity over time and maximizing your investment…

[gutenbergpr-blog]

Marketing Strategies for Private Equity Portfolio Brands | Ebook by Gutenberg Download our comprehensive ebook, "Marketing Strategies for Value Creation in Private Equity Portfolio Brands," by Gutenberg and learn how to enhance brand value, drive growth, and optimize digital marketing for maximum ROI.

[brianwilder]

Investment Insights: Why Owning Commercial Real Estate Can Be More Beneficial Than Renting

Investment Insights: Why Owning Commercial Real Estate Can Be More Beneficial Than Renting

In the world of commercial real estate, the decision to own versus rent can significantly impact your financial success and operational stability. Whether you’re a business owner or an investor, understanding the benefits of owning commercial property compared to renting can help you make a more informed decision. Here’s a closer look at why owning commercial real estate often outweighs renting:

Building Equity and Wealth

Owning commercial real estate allows you to build equity and wealth. Each mortgage payment you make contributes to building equity in the property. This equity grows over time as the property appreciates in value and as you pay down the principal balance. Unlike rent payments, which are essentially a cost with no return, owning enables you to build long-term wealth and potentially benefit from the property's increased value.

Predictable Costs

With ownership, you benefit from more predictable costs. When you own a property, your primary expenses include the mortgage, property taxes, insurance, and maintenance. While these costs are relatively stable, rental agreements can include unpredictable rent increases, especially in a competitive market. Ownership allows you to lock in costs and budget more effectively over the long term.

Control Over Your Space

Another significant advantage is the control over your space. Ownership provides greater freedom to customize and renovate the space according to your needs without requiring landlord approval. This flexibility can enhance operational efficiency and create a workspace read more

[306somesh]

Redefining Modern Society: Embracing Connection and Balance

What would you change about modern society? Introduction In the fast-paced world we live in today, there are numerous aspects of modern society that could benefit from thoughtful change. While we have made significant strides in technology, medicine, and communication, there are critical areas where improvement is essential to create a more equitable, sustainable, and compassionate world.Here…

[indextrader]

Equity Investment vs Mutual fund’s investment

Image by freepik Choosing between equity investment and mutual fund investment depends on your financial goals, risk tolerance, time commitment, and investment knowledge. Here’s a comparison to help you decide which might be better for you: Equity Investment Pros: Potential for Higher Returns: If you pick the right stocks, individual equities can offer substantial returns. Control: You have…