The map above shows how just the home price appreciation piece alone can grow your wealth over time.
NATIONAL AVERAGE: 315.7%
“Homeownership is more that just having a place to live — it’s also a key way to build wealth. As you pay off your mortgage loan, your equity in the home grows, and any increase in the home’s value also adds to your net worth.” - The Motley Fool
Home equity is one reason owning your own place can really pay off in the long run.
If you’re undecided about the value of buying a home, it’s important to compare the long-term benefits with the short-term considerations. A major advantage is the consistent increase in home values over time, which leads to equity accumulation. According to the Federal Housing Finance Agency (FHFA), home values have risen by an impressive 315.7% since 1991. This trend highlights the potential for significant returns on investment for homeowners. Building equity through homeownership provides financial stability and flexibility, making it a valuable asset for future endeavors.
When you’re ready to explore the benefits of homeownership, feel free to reach out. Send me a direct message, and let’s begin turning your homeownership dreams into reality.