The financial benefits of buying a home as compared to renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner.

Most experts are calling for home prices to continue appreciating over the next several years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home appreciation to increase as follows:

  • 2021: 6%
  • 2022: 4.5%
  • 2023: 4%
  • 2024: 3.6%
  • 2025: 3.5%

Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example:82,338 Great Reasons to Buy a Home Today | Simplifying The MarketA homeowner could increase their net worth by over $80,000 in five years. That’s an average of $16,000 annually. That number should be in any equation determining the financial benefits of owning a home compared to renting.

Bottom Line

Homeowners are going to make a substantial amount of money in home equity over the next five years. If you’re ready to buy a home, let’s connect so you can enjoy this great benefit as well.

Check out our Market areas pages to find Berthoud real estate for sale, Estes Park real estate for sale, Fort Collins real estate for sale, Greeley real estate for sale, Livermore real estate for sale, Loveland real estate for sale, Red Feather Lakes real estate for sale, Windsor real estate for sale, Wellington real estate for sale.,

About the Author: Fred Porter

Fred has lived in Northern Colorado for the past 30 years and has been a northern Colorado Realtor full time since 2013. In an effort to keep his clients informed he periodically writes articles about the market and economy. If you have questions please contact Fred at: fred@porterrestate.com

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