With the ongoing buzz about home prices and mortgage rates, you might be wondering whether buying a home right now is a smart move or if renting is the better option. Here’s some information that might help ease your mind and show you why investing in a home remains a powerful decision.
According to Gallup, real estate has been recognized as the top long-term investment for an impressive 12 years straight! It consistently outperforms other investment types such as gold, stocks, and bonds. But what makes real estate continue to shine as the best long-term investment? The answer lies in its proven ability to build wealth over time.
Unlike other investments, which can feel like a rollercoaster ride with their unpredictable ups and downs, real estate tends to follow a more stable and positive trajectory.
Historically, home values generally increase! Although prices can vary by market, over time, your home’s value is likely to appreciate. This appreciation significantly boosts your net worth. As an article from Realtor.com explains:
“Homeownership has long been tied to building wealth—and for good reason. Instead of throwing rent money out the window each month, owning a home allows you to build home equity. And over time, equity can turn your mortgage debt into a sizeable asset.”
So, if you’re torn between renting and buying, remember that real estate has consistently been voted the best long-term investment for a reason. If you’re ready and able, it might be a great time to buy and start building your wealth through homeownership.
In conclusion, when it comes to building enduring wealth, real estate is the way to go. If you’re ready to embark on your journey to homeownership, connect with The Durham Team today!