In order to analyze the market value of owned homes by housing tenure we have broken the national population into the following categories:

1. The average market value of owned home by homeowner with a mortgage.
2. The average market value of owned home by homeowner without a mortgage.

The most interesting fact that emerges from this analysis is that the nationally on average, the market value of homes with a mortgage have been valued 23% higher than homes without a mortgage. This sounds counter intuitive but it is not, more often than not a home without a mortgage belongs to folks who are older and have had the opportunity to work and pay down their mortgage and are in the process of planning for retirement if they are not retired already.

We find that the value of the average home in the country that had a mortgage was $263,930 as compared to $213,690 for a home where the home owner had already paid off the mortgage. What may surprise people is that in terms of the home market value appreciation over the decade from 2005 to 2014, the value of home with a mortgage have actually declined by 10.8% as compared to a 5.6% decline in the market value of a home without a mortgage during the same time frame.

Both types of homes present Spotless Homes with opportunities for business:

1. Homes with mortgages are indicative of younger borrowers who are probably still working to pay off their mortgages. These folks tend to be on the run and need help with the cleaning of their houses. Thus these are excellent folks to offer annual contracts that require the cleaning service to come in once every so many weeks for cleaning. Additionally, since these folks probably have equity in their homes or are at least always looking to re-finance their mortgages, Spotless Homes could work with a mortgage broker in a Business Networking (BNI) setting, where they refer business to each other.
2. Homes without mortgages are indicative of retired homeowners who are done paying off their mortgage and are probably not actively earning wages anymore. While they may not be on the go as much as younger borrowers, they still may need the help of cleaning services since as folks age, their ability to be active around the house slows down considerably. Spotless Homes could offer these homeowners occasional one off cleaning specials that would not require a long term financial commitment from the homeowner.

Quick Links:

1. Go to the Corresponding Template section for this industry.
2. Go to the Corresponding Questionnaire section for this industry.