Why Buying Now May Be Worth It in the Long Run

Should You Buy a Home Now or Wait?

That’s a question a lot of people have these days. What’s right for you will depend on a lot of different factors. Here’s something you will want to consider as you make your decision.

As soon as you buy, you’ll start gaining equity. And you would be surprised how quickly that can add up – even with more moderate home price appreciation.

Home Price Expectations

Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over 100 economists, real estate experts, investment and market strategists what they forecast for home prices over the next five years. In the latest release, experts project prices will continue to rise nationally through at least 2028.

While home prices are going to vary from one local area to the next, this shows they’re epected to keep going up nationally. The size of the increase varies from year-to-year. The important takeaway is that prices are forecast to rise every single year – just at a moderate pace.

And while rising home prices may not sound great right now, once you own a home, that growth will be a big bonus for you. Here’s a look at what you stand to gain equity-wise once you buy.

If you bought a $450,000 home at the beginning of this year, based on that starting value and expert forecasts, you could gain more than $90,000 in househhold wealth over the next five years.

Are You Ready?

Are you ready, able to buy, and want to grow your wealth then you’ve got an opportunity in front of you. And now that mortgage rates have fallen, it may be time to consider making a move.

To talk more about your options and what makes sense, call me. I will be able to tell you what home prices are doing in your area and what that means for your move.