2086: How to Build Equity in Your Home by Kumiko

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 2 November 2022

⏱️ 10 minutes

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Summary

Kumiko of The Budget Mom talks about how to build equity in your home Episode 2086: How to Build Equity in Your Home by Kumiko Kumiko went from having a pile of credit card debt to becoming a successful budgeter and Accredited Financial Counselor. The Budget Mom exists to empower women to build a life they love on a budget they understand and can afford. The original post is located here: https://www.thebudgetmom.com/how-to-build-equity-in-your-home/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 2086.
0:04.4	How to Build Equity in Your Home by Camico of the BudgetMom.com
0:09.5	And on your host and personal finance enthusiasts, Diana Mariam.
0:13.6	Now let's get right to today's post and continue optimizing your life.
0:22.1	How to Build Equity in Your Home by Camico of the BudgetMom.com
0:27.8	A few years ago, I set a big financial goal for myself.
0:31.6	I decided to become a homeowner and to buy my first home in cash.
0:36.1	If you follow me on Instagram, you know that earlier this year I was finally able to reach
0:40.4	that goal.
0:41.6	The day I surprised my son and revealed that I saved up enough money to buy our dream
0:46.1	home in cash was one of the happiest days of my life.
0:50.0	Personally, I'm in love with our forever home, and I don't have any plans to sell it.
0:55.0	But I still understand that it's a valuable asset.
0:58.3	By taking care of my home and building equity in it, I can increase my net worth.
1:03.2	I also put myself in a position to leave an inheritance for my son.
1:07.7	If you're a homeowner or thinking about becoming one, it's smart to try to increase the
1:12.1	value of your home over time.
1:15.3	What is home equity?
1:17.8	Home equity is the difference between the market value of your home, also known as how much
1:22.2	you could sell it for, and the amount you owe on your mortgage.
1:26.0	If you own your home outright, then 100% of its market value is home equity.
1:31.7	Building home equity.
	...

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