Why Owning a Home Is Worth It in the Long Run

If you’re second-guessing whether now is the right time to buy a home because of today’s mortgage rates and home prices, you’re not alone. But while these factors are important, it’s equally critical to consider the bigger picture: the long-term benefits of owning a home.

Home Price Growth Over Time

Owning a home isn’t just about having a place to live—it’s an investment in your future. Let’s look at the numbers:

1. Recent Home Price Growth

Data from the Federal Housing Finance Agency (FHFA) shows that home prices have increased by over 57% nationally in the past five years. Depending on the region, this appreciation may be slightly above or below average, but it’s clear that the value of homeownership has grown significantly in a short time.

2. Long-Term Gains

If you zoom out even further, the benefits are even more striking. Over the past 30 years, home prices have appreciated by more than 320% nationally.

This means a homeowner who purchased a house three decades ago likely saw their home triple in value. These gains have played a key role in helping homeowners build substantial wealth over time.

The Power of Homeownership

The steady growth in home prices is one of the reasons you’ll rarely meet a homeowner who regrets their purchase. Over time, owning a home becomes a financial advantage as your equity grows and your net worth increases.

Bottom Line

Yes, today’s housing market presents challenges, but it also offers an opportunity to start building long-term wealth. If you’re ready to buy, let’s connect. Together, we’ll navigate the market and take the first step toward securing your future through homeownership.

Finding ways to make your credit score better could help you get a lower mortgage rate. When you’re ready to get the process started, let’s connect.