Many people consider buying a home to be a fundamental part of achieving the American dream. However, buying a home can be so much more. Many Americans believe that real estate is a great long-term investment, according to the National Association of Realtors
. If you’ve been considering buying a home, here are some of the reasons why it could be a great investment for you.
Home values are rising all over the country thanks to a continued growth in the housing market. Compared to the last few years, consumers have gained more confidence in the market and are more willing to purchase a new home. According to a recent Gallup poll
, 31% of adults consider real estate to be an excellent long-term investment, more so than stocks, mutual funds and gold.
Right now, mortgage and interest rates are at historically low rates. This makes buying a home the most affordable that it’s been in a long time. It also means that housing prices are due to go up, making it a great time to invest in a home. There is the possibility, given recent trends, that the overall value of your home will go up over time.
If you’ve been renting then you have probably noticed how rent prices have gone up over the past couple of years. In fact, according to BiggerPockets blog
, many analysts expect that rents are expected to rise, and continue to rise, over the coming years. However, your housing costs will remain stable, meaning that you will save money in the long run by choosing to buy a home instead of rent. There are also a number of tax breaks that homeowners receive that will save you money on your tax returns.
As you can see, there are many reasons that home ownership is a great investment. Find out more about the Arcadia communities
and find a home that would be a great investment for you!