Invest in Yourself by Buying a Home

Are you contemplating the wisdom of purchasing a home in the current market? Despite the somewhat daunting mortgage rates, here are two persuasive arguments in favor of taking the leap of homeownership and investing in yourself by buying a home.

Steady Growth in Home Values

Recent years have seen some confusion regarding the trajectory of home prices. After a minor dip in late 2022, prices have resumed a more typical pattern of appreciation this year, signaling positive momentum in the real estate market. While short-term fluctuations may suggest unpredictability, a broader historical perspective reveals a consistent upward trend in home values (refer to the accompanying graph):

Analyzing 60 years of Federal Reserve data reveals a general upward trajectory in home prices. Despite the notable deviation during the 2008 housing crisis, the long-term trend has been a consistent increase in home values.

This upward trend in home values is a compelling reason to choose buying over renting. As property prices increase and you continue to pay off your mortgage, you accumulate equity. This growing equity can significantly enhance your net worth over time.

The Persistent Rise in Rental Costs Another factor to consider is the relentless escalation of rent. If you’ve experienced the burden of yearly rent increases, you’re certainly not alone. Historical data shows a steady rise in rents over the past six decades (refer to the accompanying graph):

Homeownership allows you to stabilize your monthly housing expenses and escape the cycle of increasing rent. This financial predictability can be a major advantage.

Ultimately, the decision boils down to this: your housing payments are an investment. The question is, do you invest in your future or in your landlord’s?

Homeownership is an investment in your own future. Renting, on the other hand, is an expenditure with no financial return.

Considering the consistent rise in home values and the opportunity to avoid perpetual rent increases, owning a home can pave the way to financial stability. As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), notes:

“If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”

Bottom Line

Ultimately, despite higher mortgage rates, the advantages of buying a home outweigh those of renting. If you’re looking to escape the cycle of rising rents and benefit from the long-term appreciation of property values, contact Countryside Homes NJ and RE/MAX Select to discuss how you can invest in yourself by buying a home.

Client Testimonials for Countryside Homes NJ

At Countryside Homes NJ and RE/MAX Select, we pride ourselves on delivering exceptional service to our clients. But don’t just take our word for it—read what our satisfied customers have to say. From first-time homebuyers to seasoned real estate investors and new home builders, our clients appreciate our dedication, expertise, and commitment to their success. Here are some of their stories.

David R. New Homeowner

Collaborating with Keith LaBrunda and Heather Montalbano from Countryside Homes NJ and RE/MAX Select streamlined the home-buying process for me. They were attentive to my needs and preferences, ensuring they understood exactly what I was seeking in a home and what was within my financial comfort zone. Keith and Heather provided invaluable assistance during the offer stage, sharing insightful details that enabled me to place a successful bid on my desired property. They recommended associates to assist me with securing a mortgage, conducting home inspections, and acquiring homeowner's insurance. Post-purchase, they continued to be a resource, suggesting local companies to contact for internet, water, waste management, oil, and other essential services. The experience of purchasing a home with Keith LaBrunda and Heather Montalbano was seamless and enjoyable.

Rachel and Andre First Time Homebuyer

As first-time homebuyers, the process of finding and purchasing a home felt daunting. But from the moment we reached out to Heather and Keith at Countryside Homes NJ and RE/MAX Select, our worries were put to rest. Their team was incredibly patient, answering all our questions and guiding us through every step. They took the time to understand our needs and preferences, ensuring that we found the perfect home in a neighborhood we love. We were especially impressed by their vast knowledge of the local market and their commitment to ensuring we got the best deal possible. We can't thank them enough for making our dream of homeownership a reality. If you're in the market for a new home, we highly recommend Heather and Keith at Countryside Homes NJ and RE/MAX Select. They truly go above and beyond for their clients!

Prestia Family New Homeowners

From the moment we began our home search, Heather at Countryside Homes NJ and RE/MAX Select stood out as the epitome of professionalism and dedication. Her team's in-depth knowledge of the Rockaway Borough area and their unwavering commitment to our needs made our home buying journey not only smooth but truly enjoyable. As new homeowners in Rockaway Borough, NJ, we can confidently say that choosing Heather at Countryside Homes NJ and RE/MAX Select was the best decision we made. Her expertise, patience, and genuine care for our family's needs transformed what could have been a stressful process into a memorable and joyous occasion. We are beyond grateful for her support and would highly recommend her and her team to anyone looking to find their dream home. Thank you for turning our dreams into reality!