The financial benefits of buying a home as 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 are calling for 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 strategiests, 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:

A homeowner could increase their networth by over $80,000 in 5 years. That's an average of $16,000 annually. That number should be in any equation etermining the financial benefits of owning a home compared to renting. 

Bottom Line

Homeowners are going to make a substantial amount of money in home equity over the next five years. If you're ready to buy a home, let's connect so you can enjoy this great benefit as well. 

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