Why Homeownership Wins in the Long Run Today & rsquo; s greater home loan rates, inflationary pressures, and issues about a prospective recession have some people questioning: should I still purchase a house this year? While it & rsquo; s true this year has distinct obstacles for property buyers, it & rsquo; s important to think about the long-term benefits of homeownership when making your choice. Consider this: if you understand people who bought a home 5, 10, or even 30 years ago, you & rsquo; re most likely going to have a difficult time discovering someone who regrets their choice. Why is that? The factor is tied to how home values grow with time’and how, by extension, that grows your own wealth. That might be why,’in a current Fannie Mae survey, 70%of participants say they think buying a house is a safe investment. Here & rsquo; s a take a look at how just the home rate appreciation piece can really build up throughout the years. House Price Growth with time The map below uses information from the Federal Housing Finance Agency(FHFA )to show just how noteworthy cost gains have been over the last five years. And, since home prices differ by location, the map is broken out regionally to help communicate bigger market trends. If you look at the percent change in home costs, you can see house rates grew typically by simply over 56%across the country over a five-year duration. Some regions are slightly above or below that average, however overall, home prices gained strong ground in a short time. And if you expand that time frame a lot more, the benefit of homeownership and the extreme gains house owners made over the years end up being even clearer(see map below): The 2nd map programs, nationwide

, house costs appreciated by an average of over 290%over an approximately 30-year span. This across the country average tells you the normal homeowner who bought a house

30 years ago saw their house nearly triple in value over that time. That & rsquo; s a key consider why many property owners who purchased their homes years ago are still delighted with their decision. And while you may have heard talk in late 2022 that house rates would crash, it didn & rsquo; t take place. Despite the fact that home rates have actually moderated from the record peak we saw throughout the & lsquo; unicorn & rsquo; years, prices are already rebounding in lots of areas today. That means, in the majority of markets, your home should grow in value over the next year. The option to purchasing a home is renting, and rental rates have actually been climbing for decades. Why lease and deal with annual lease walkings for no long-term monetary benefit? Instead, consider buying a home. Bottom Line If you & rsquo; re questioning if it still makes good sense to purchase a home today, remember the amazing long-lasting benefits of homeownership. Let & rsquo; s connect today if you & rsquo; re ready to start the discussion. Here & rsquo; s an appearance at how just the home price appreciation piece can actually include up over the years. And, considering that home costs differ by location, the map is broken out regionally to help convey bigger market trends. If you look at the percent change in house rates, you can see home prices grew on average by just over 56%nationwide over a five-year duration. That suggests, in many markets, your house needs to grow in value over the next year. If you & rsquo; re questioning if it still makes sense to buy a home today, remember the amazing long-term advantages of homeownership.