What is the Long Term Benefit of Homeownership?

Have you ever wondered about the long-term benefits of owning a home?  As a buyer in today’s market, you may be feeling a little uneasy with the current market, rising mortgage rates, and economic conditions, but it is also important to consider the long-term benefit of homeownership when making your decision to buy. Most likely if you speak to someone who has been in their home for a lengthy period, they do not regret their decision due to the equity they have built over the years.  Today, home Equity is the shining star of the housing market. According to the National Association of Realtors, “Home equity gains are built up through price appreciation and by paying off the mortgage through principal payments”  and although we are seeing the market shift, homes are continuing to appreciate at moderate levels.  Experts are predicting home prices will still continue to appreciate nationally in 2023.  And if you are planning to remain in your home for a length of time, you should see growth year after year. This is a long-term investment benefit that will increase your net worth and set you up for long-term financial gains.

According to Odeta Kushi, Deputy chief economist for First American, “Homeowners nationally had an average of $320,000 in inflation-adjusted equity in their homes in the second quarter of 2022, an all-time high”.  AND for some homeowners, home equity is the only source of creating more wealth. So the bottom line is, if you are in a position to buy, do not let current conditions sway you from achieving your home ownership dreams. You need to consider the long-term investment for your future. I’m Krista Mashore with Homes By Krista and eXp Realty, connect with me so we can help you with any of your real estate needs if you are planning on purchasing or selling a home. In 2018 Krista Mashore sold over 22 Million dollars worth of Real Estate and is named in the Wall Street Journal within the Top 100 Agents Nationwide. Please see the article at The Wall Street Journal. To see Krista’s local recognition check out this link featured in the Brentwood Press.

Krista’s expertise and professionalism is revealed not only in the 14 years in Real Estate but also by being within the top 1% of all Realtors in Contra Costa County continuously since 2002. Krista possess a Master’s Degree in Education, previously employed as a School Teacher. Her excellence derives from her outstanding communication, skills, expertise in marketing, and her optimistic attitude toward life in general. Pristine Customer Service to her clients is a top priority. Krista has a natural ability for developing trust by her client base.

Her attitude is characterized her slogan:
“When You Do What You Love, People Love What You Do”