See photos and updates from listings directly in your feed
Share your favorite listings with friends and family
Save your search and get new listings directly in your mailbox before everybody else
The financial benefits of buying a home as compared to renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner.
Most experts are calling for home prices to continue appreciating over the next several years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home appreciation to increase as follows:
- 2021: 6%
- 2022: 4.5%
- 2023: 4%
- 2024: 3.6%
- 2025: 3.5%
Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example:
A homeowner could increase their net worth by over $80,000 in five years. That’s an average of $16,000 annually. That number should be in any equation determining the financial benefits of owning a home compared to renting.
Bottom Line
Homeowners are going to make a substantial amount of money in home equity over the next five years. If you’re ready to buy a home, talk with a real estate professional today so you can enjoy this great benefit as well.
The post 82,338 Great Reasons to Buy a Home Today appeared first on Keeping Current Matters.
Source: Simplifyingthemarket
