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 signals a clear 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.
If you’re thinking about purchasing a home, let this reassure you. Even in today’s evolving economic landscape, 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.
The process of buying a home can feel a bit intimidating, even under normal circumstances, but today’s market is still anything but normal. There continues to be a very limited number of homes for sale and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes.
Navigating all of this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through the homebuying process is essential, especially today. Bankrate shares this perspective:
“Advice and guidance from a professional real estate agent can be invaluable, particularly amid a hot or unpredictable housing market.”
As your agent I am dedicated to enhancing your real estate experience with:
- Experience – As a real estate professional, I spend my days immersed in the ins and outs of today’s market, how it impacts my clients, and how to navigate hurdles as they arise.
- Education – Knowledge is power when it comes to buying a home. I take great care in effectively explaining market conditions and translating them into how they impact my clients so you can feel confident in your decision.
- Negotiations – I advocate for your best interests. In addition to providing critical assistance with the purchase agreement I also help you negotiate potential seller concessions as we metabolize inspections and investigations.
- Contracts – In today’s heavily regulated environment, I will guide you through the necessary disclosures and contracts.
- Pricing – Making an offer and negotiating with a seller can be one of the most challenging and stressful parts of the homebuying process. I work tirelessly to provide my clients with a clear and current lens on the market to maximize their competitive edge.
The latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR). NAR also has this to say about why an aligning with the right agent is so essential today:
“A great real estate agent will guide you through the home search with an unbiased eye, helping you meet your buying objectives while staying within your budget. Agents are also a great source when you have questions about local amenities, utilities, zoning rules, contractors, and more.”
If you’re planning to buy a home this year, let’s connect to explore how I can support you on your real estate journey.