Keeping It REAL - by Bettsy Tyler

  Could Rising Home Prices Impact Your Net Worth?   Learn how to determine your current net worth and how an investment in real estate can help improve your bottom line. Among its many impacts, COVID-19 has had a pronounced effect on the housing market. Low home inventory and high buyer demand have driven home prices to an all-time high. 1 This has given an unexpected financial boost to many homeowners during a challenging time. However, for some renters, rising home prices are making dreams of homeownership feel further out of reach. If you’re a homeowner, it’s important for you to understand how your home’s value contributes to your overall net worth. If you’re a renter, now is the time for you to figure out how homeownership fits into your short-term goals and your long-term financial future. An investment in real estate can help you grow your net worth, build wealth over time, and gain a foothold in the housing market to keep pace with rising prices. What i...

Accessory Dwelling Units – commonly known as ADUs if you are familiar with real estate lingo. These are the “tiny houses”, “granny units”, “In-law units”, backyard cottages”, “or secondary units” that you can build somewhere on your property to house well, your in-laws, granny, friends, or rent out for extra income. Many Air B&B’s’s across America are simply ADUs, or Junior ADU’s which means an area built within the confines of your home (basement, attic, master suite conversion.) Many people will buy a house because it has an ADU and that extra rental income can be quite a windfall in helping pay the mortgage. It could also come in handy if the folks want or need to move close to you – then they can help with your mortgage! There are many advantages to having these ADUs besides money $$$. But there is no doubt that having an ADU on your property increases the value mainly because of all the options they provide. Spare work out area, office space, music room, yoga studi...