With all the headlines circulating about home prices and mortgage rates, you may be asking yourself if it still makes sense to buy a home right now, or if it’s better to keep renting. Here is some information that could help put your mind at ease. Investing in a home is still a powerful decision.
According to the experts at Gallup, real estate has been crowned the top long-term investment for 12 years in a row. It has consistently beat out other investment types like gold, stocks, and bonds. Just take a look at the graph below.
But why does real estate continue to reign supreme as a top-notch long-term investment? It’s because buying a home can be your golden ticket to building wealth over time.
Unlike other investments, real estate follows a more predictable and positive pattern.
History shows home values usually rise. And while prices may vary by market, that means as time goes by, your house is likely to appreciate in value. That helps you grow your net worth in a big way. 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 on the fence about whether to rent or buy, remember that real estate was consistently voted the best long-term investment for a reason. If you want to get in on that action, it may make sense to go ahead and buy.,
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