The Long-Term Benefit of Homeownership
Here’s a look at how just the home price appreciation piece can really add up over the years.
Home Price Growth Over Time
Even though home price appreciation has moderated this year, home values have still increased significantly in recent years. That means a home’s value can increase substantially in a short time. And if you expand that time frame even more, the benefit of homeownership and the drastic gains you stand to make become even clearer.
This is why homeowners who bought their homes years ago are still happy with their decision. Even if home price appreciation eases as the market cools this year, experts say home prices are still expected to appreciate nationally in 2023. That means, in most markets, your home should grow in value over the next year even if the pace is slower than it was during the peak market frenzy when prices skyrocketed.
The alternative to buying a home is renting, and rental prices have been climbing for decades. So why rent and fight annual lease hikes for no long-term financial benefit? Instead, consider buying a home. It’s an investment in your future that could set you up for long-term gains.
Don’t let the shifting market delay your dreams. If you’re ready to start your journey to homeownership, DM me today.
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