Real Estate rebound shows that buying a home is one of the best investments you can make.
That’s a good question, as there are many ways to, and many reasons for, investing in real estate. In this article, we’ll focus on purchasing a home that you will occupy as your residence for an extended period of time.
You WILL make money on your investment.
Yes, we’ve seen some relatively short term losses in real estate a few years back. The recession definitely put a dip in the marketplace for a couple of years. However, prices and equity have rebounded to pre-recession levels. What’s more important is the understanding that, in the long term, real estate increases in value annually on average at somewhere between 3 and 5 percent. The Santa Clarita market has seen prices rise annually in the past couple of years in the range of double-digit percentage figures, which compensates for the drops in prices between 2008-2011.
So, if you’re planning on purchasing a home that you are going to stay in, perhaps raise a family, or even if you just want to establish long-term roots in a neighborhood or community, then you’re making the right choice!
“Maybe I’ll wait until prices drop again.”
We hear this from time to time. A renter decides that he or she will just “hold out” for real estate prices to drop. There are a few significant issues with this thought process.
- You don’t know when (or even IF) prices will drop in the near or distant future.
- Think of how much money you’re spending on rent that you can’t even get back through equity growth or as a tax write off.*
*Yes, there are tax benefits to owning a home. Consult your accountant or tax expert for complete details.
Let us help you set your real estate goals.
The Lichen-Hooper Real Estate Team are dedicated to helping home buyers and sellers achieve their dreams of real estate success. We are licensed, knowledgeable, and provide a full-service real estate experience.