Long-Term Benefit of Homeownership
Should You Buy A Home This Year?
If you know people who purchased their home or any real estate property 5, 10, or even more than 20 years ago, it is very hard to find someone who regrets their decision that they have bought one. Why? Because they gained equity and wealth as home value grows and appreciated over time.
We know that home values have increased significantly specially since COVID. If you look at the Percent Change in Home prices over the past 5 years, the value grew over with a rate of 63% nationwide, and 90% in Florida. However real estate increases have appreciated on an average of 290% over a thirty year time peiod.
83% of wealth for the average person comes from real estate equity. That is why it is important to buy real estate as a long term approach and strategy. Real estate has a history of increasing ever since. Why should you lease or rent and struggle with the annual rent increases if you can invest in buying a home for your future and gain long-term advantages and benefits?