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CREATING REAL
ESTATE WEALTH
Creating wealth by owning real estate is simple. Really wealth is created by increasing the property’s market value. Although inflation helps increase market value of most real estate, smart property investors do not rely on inflation alone. A real estate wealth creator is a person who improves real estate at a cost that is less than the marketplace will pay for the increased value of those improvements.
‘ ‘ Improvements”mean not only new construction but also renovation of existing structures and creating new use for underutilized buildings or underused land.
For example, if a person spends one dollar to improve his or her home and, as a result, that home’s market value goes up by two dollars or more, real estate wealth has been created. The person who spends $10,000 adding a bedroom to his home may be adding $20,000 to its market value if there is a demand in that community for larger homes.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA. 22747. Phone: 675-3400. We’re here to help.
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