Why Home Ownership is Still a Great Investment
As home prices increase each year, home ownership is still a great investment.
For first-time homebuyers especially, it might be unclear how owning a home pays off over time. Although it represents a significant expense, with the help of a great lender and good savings practices, homeownership is well worth it for many.
Recent data show U.S. home prices were increasing about 5 percent per year, a faster rate of return than even some investments on Wall Street.
And another recent study found that the average U.S. homebuyer breaks even on their home purchase in less than two years. That means compared to renting, homeownership is still very affordable over time.
For more information on mortgages, contact your local Vectra Bank.