The Importance of Equity when buying a Home in San Diego The equity that increases over time enables you to build wealth. This is what makes investing in a home such a valuable proposition. The money spent on your mortgage retains value as opposed to paying rent. Once your home is paid off, your monthly savings can be passed on to your son or daughter if they inherit the home. However, this is just one part of the equation. Equity can be leveraged towards other investments that appreciate. For example, you could use the equity in your home to put a down payment on a second or vacation home. It can also be applied to other property investments as well. Furthermore, you could help your son or daughter by their first home with a home equity loan. These are all key components for building wealth across other generations. In addition to building wealth, home ownership has many social benefits. Having equity can enable you to get a job, loans, or a position of social standing. It also helps you to acquire experience with life skills such as the financial and maintenance skills required to keep your home. Most importantly, homeownership is a self-esteem builder. Community Mortgage 814 Morena Blvd #310 San Diego, CA 92110 (619) 692-3630 https://www.google.com/maps?cid=10479155514255890680 https://local.google.com/place?id=10479155514255890680&use=posts&lpsid=4771777732474427308