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:
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
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, let’s
connect so you can enjoy this great benefit as well.