If you’re planning to buy your first home, then you’re probably focused on saving for all the costs involved in such a big purchase.
Saving for a Down Payment? Here’s What You Need To Know.
How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC]
![How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC] Simplifying The Market](https://files.keepingcurrentmatters.com/content/images/20230615/How-Owning-a-Home-Grows-Your-Wealth-with-Time-KCM-Share.png)
If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.
Why Buying or Selling a Home Helps the Economy and Your Community
If you’re thinking about buying or selling a house, it’s important to know that it doesn’t just affect your life, but also your community.
A Drop in Equity Doesn’t Mean Low Equity
You may see media coverage talking about a drop in homeowner equity.
Your Needs Matter More Than Today’s Mortgage Rates
If you’re thinking about selling your house right now, chances are it’s because something in your life has changed.
Are Home Prices Going Up or Down? That Depends…
Media coverage about what’s happening with home prices can be confusing.
Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]
![Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC] Simplifying The Market](https://files.keepingcurrentmatters.com/content/images/20230608/Why-You-Cant-Compare-Now-to-the-Unicorn-Years-of-the-Housing-Market-KCM-Share.png)
Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years.
This Real Estate Market Is the Strongest of Our Lifetime
When you look at the numbers today, the one thing that stands out is the strength of this housing market.
The Main Reason Mortgage Rates Are So High
Today’s mortgage rates are top-of-mind for many homebuyers right now.
Real Estate Is Still Considered the Best Long-Term Investment
With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):
If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.
Why Do Americans Still Feel So Positive About the Value of Investing in a Home?
Purchasing real estate has typically been a solid long-term strategy for building wealth in America. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes:
“. . . homeownership is a catalyst for building wealth for people from all walks of life. A monthly mortgage payment is often considered a forced savings account that helps homeowners build a net worth about 40 times higher than that of a renter.”
That’s because owning a home grows your net worth over time as your home appreciates in value and as you pay down your mortgage. And, since building that wealth takes time, it may make sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments going toward your home equity.
Bottom Line
Buying a home is a powerful decision. So, it’s no wonder so many people view real estate as the best long-term investment. If you’re ready to start on your own journey toward homeownership, connect with a local real estate advisor today.