Greg King

Greg King

Realtor ®
S.0070665.LLC

82,338 Great Reason to Buy a Home Today

By Greg King - May 14, 2021

 

 

82,338 Great Reasons to Buy a Home Today

 

The financial benefits of buying a home 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 call 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:

  • 2021: 6%
  • 2022: 4.5%
  • 2023: 4%
  • 2024: 3.6%
  • 2025: 3.5%

Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example:82,338 Great Reasons to Buy a Home Today | Keeping Current MattersA 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 than renting.

Bottom Line

Homeowners will make a substantial amount of money in home equity over the next five years. If you’re ready to buy a home, talk with a real estate professional today so you can enjoy this great benefit as well.

 

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