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Property Appreciation
Most people who rent a home are probably paying less each month for housing than they would pay for a mortgage on a similar home. Why are people willing to pay more each month to own their own home?

A home grows in value over the years. The rate of appreciation depends on many factors--the location, interest rates, and the general economic climate in the community. If you purchase a property for $100,000 which grows in value at the rate of 5 percent each year, it will be worth approximately $121,000 at the end of five years. At a 10 percent annual rate of growth, the value of your investment will go up to $146,000. As rent increases for those who lease a home, your payments (with a fixed-rate mortgage) will remain constant for the life of your mortgage, and the value of your home increases as you build up equity.

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