Why Homeownership Can Still Be a Smart Move, Even in Today's Market

With today’s fluctuating mortgage rates and rising home prices, it’s natural to wonder if now is the right time to buy a home. While current market conditions certainly play a role in the decision, it’s important to zoom out and consider the bigger picture: the long-term advantages of owning a home.

Think about it this way: If you know people who bought homes 5, 10, or even 30 years ago, chances are you’ll have a hard time finding someone who regrets their decision. Why? Because, over time, home values tend to rise, and as a result, so does a homeowner’s net worth. Let’s take a closer look at how homeownership can pay off in the long run.

Home Price Growth Over Time

Over the past five years, home prices have increased significantly, with national prices rising by more than 57%. While these changes vary by region, the overall trend is clear: home prices have seen substantial growth in a relatively short period of time.

Looking at a longer time frame, the picture becomes even more striking. Over the last 30 years, home prices have appreciated by an average of more than 320% across the United States.

For homeowners who bought three decades ago, their property has likely tripled in value, which is a major reason why many long-term homeowners are still glad they made the decision to buy when they did.

The Bottom Line

No one can deny that today’s housing market is complex, and there are certainly factors to weigh before making a move. However, if you’re financially prepared and ready to buy, there are still significant long-term benefits to homeownership. Let’s connect to discuss how we can make your homebuying goals a reality, so you can start building wealth as your home’s value increases over time.