[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$ffka9vqnj22xz":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},4319,"the-long-term-benefit-of-homeownership","The Long-Term Benefit of Homeownership","Today’s cooling \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F14\u002Fis-the-real-estate-market-slowing-down-or-is-this-a-housing-bubble\u002F\">housing market\u003C\u002Fa>, the rise in mortgage rates, and mounting economic concerns have some people questioning: \u003Cem>should I still buy a home this year?\u003C\u002Fem> While it’s true this year has unique challenges for homebuyers, it’s important to factor the long-term benefits of homeownership into your decision.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F04142817\u002F20221005-KCM-Share.jpg","Today’s cooling \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F14\u002Fis-the-real-estate-market-slowing-down-or-is-this-a-housing-bubble\u002F\">housing market\u003C\u002Fa>, the rise in mortgage rates, and mounting economic concerns have some people questioning: \u003Cem>should I still buy a home this year?\u003C\u002Fem> While it’s true this year has unique challenges for homebuyers, it’s important to factor the long-term benefits of homeownership into your decision.\u003C!--more-->\r\n\r\nConsider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how you gain \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F20\u002Fwatching-the-stock-market-check-the-value-of-your-home-for-good-news\u002F\">equity\u003C\u002Fa> and \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F26\u002Fthe-true-strength-of-homeowners-today\u002F\">wealth\u003C\u002Fa> as home values grow with time.\r\n\r\nThe \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR) \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fresearch-and-statistics\u002Fresearch-reports\u002Fmetro-area-housing-wealth-gains\">explains\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“Home equity gains are built up through price appreciation and by paying off the mortgage through principal payments.\u003C\u002Fem>”\u003C\u002Fblockquote>\r\nHere’s a look at how just the home price appreciation piece can really add up over the years.\r\n\u003Ch4>\u003Cstrong>Home Price Growth Over Time\u003C\u002Fstrong>\u003C\u002Fh4>\r\nEven though \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F08\u002F30\u002Fwhats-actually-happening-with-home-prices-today\u002F\">home price appreciation\u003C\u002Fa> has moderated this year, home values have still increased significantly in recent years. The map below uses \u003Ca href=\"https:\u002F\u002Fwww.fhfa.gov\u002FDataTools\u002FTools\u002FPages\u002FHouse-Price-Index-(HPI).aspx\">data\u003C\u002Fa> from the \u003Cem>Federal Housing Finance Agency\u003C\u002Fem> (FHFA) to show just how noteworthy those gains have been over the last five years.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F04142819\u002F20221003-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-47258\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F04142819\u002F20221003-MEM-Eng-1.png\" alt=\"The Long-Term Benefit of Homeownership | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\n\u003Cstrong>If you look at the percent change in home prices, you can see home prices grew on average by almost 64% nationwide over that period. \u003C\u002Fstrong>\r\n\r\nThat means a home’s value can increase substantially in a short time. And if you expand that time frame even more, the benefit of homeownership and the \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F06\u002Fhow-owning-a-home-builds-your-net-worth\u002F\">drastic gains\u003C\u002Fa> you stand to make become even clearer (\u003Cem>see map below\u003C\u002Fem>):\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F04142815\u002F20221003-MEM-Eng-2.png\">\u003Cimg class=\"aligncenter wp-image-47256\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F04142815\u002F20221003-MEM-Eng-2.png\" alt=\"The Long-Term Benefit of Homeownership | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\n\u003Cstrong>The second map shows, nationwide, home prices appreciated by an average of over 290% over roughly a thirty-year span.\u003C\u002Fstrong>\r\n\r\nWhile home price growth varies by state and local area, the nationwide average tells you the typical homeowner who bought a house thirty years ago saw their home almost triple in value over that time. This is why homeowners who bought their homes years ago are still happy with their decision.\r\n\r\nEven if home price appreciation eases as the market cools this year, \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F22\u002Fwhat-experts-say-will-happen-with-home-prices-next-year\u002F\">experts say\u003C\u002Fa> home prices are still expected to appreciate nationally in 2023. That means, in most markets, your home should grow in value over the next year even if the pace is slower than it was during the peak market frenzy when prices skyrocketed.\r\n\r\nThe alternative to buying a home is \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F30\u002Fwhy-buying-a-home-may-make-more-sense-than-renting-infographic\u002F\">renting\u003C\u002Fa>, and rental prices have been climbing for decades. So why rent and fight annual lease hikes for no long-term financial benefit? Instead, consider \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F09\u002F15\u002Fbuyers-are-regaining-some-of-their-negotiation-power-in-todays-housing-market\u002F\">buying a home\u003C\u002Fa>. It’s an investment in your future that could set you up for long-term gains.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nDon’t let the shifting market delay your dreams. Data shows home values typically appreciate over time, and that gives your net worth a nice boost. If you’re ready to start your journey to homeownership, let’s connect today.","\r\nDon’t let the shifting market delay your dreams. Data shows home values typically appreciate over time, and that gives your net worth a nice boost. If you’re ready to start your journey to homeownership, let’s connect today.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F04142819\u002F20221003-MEM-Eng-1.png",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},11,"First-Time Buyers","first-time-buyers",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up","2022-10-05T10:00:02Z","2023-02-03T15:33:48Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},4318,"the-cost-of-waiting-for-mortgage-rates-to-go-down","The Cost of Waiting for Mortgage Rates To Go Down","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F03144153\u002F20221003-KCM-Share.jpg","2022-10-04T10:00:19Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},4320,"two-questions-every-homebuyer-should-ask-themselves-right-now","Two Questions Every Homebuyer Should Ask Themselves Right Now","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F10\u002F05120815\u002F20221006-KCM-Share.jpg","2022-10-06T10:00:47Z",{"cover":48,"open":49,"shareSpread":50},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[52,56,57,61,65,69,70,71,75,79,80,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},6,"For Sellers","sellers",{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":22,"name":23,"slug":24},{"id":26,"name":27,"slug":28},{"id":72,"name":73,"slug":74},34,"Senior Market","senior-market",{"id":76,"name":77,"slug":78},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},{"id":81,"name":82,"slug":83},41,"For Sale by Owner","for-sale-by-owner",{"id":85,"name":86,"slug":87},42,"Featured","featured",{"id":89,"name":90,"slug":91},45,"New Construction","new-construction",{"id":93,"name":94,"slug":95},52,"Luxury \u002F Vacation","luxury--vacation",{"id":97,"name":98,"slug":99},53,"Rent vs. Buy","rent-vs-buy",{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]