{"id":3772,"date":"2023-03-23T10:30:00","date_gmt":"2023-03-23T10:30:00","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/03\/23\/why-buying-a-home-is-a-sound-decision\/"},"modified":"2023-03-23T10:30:00","modified_gmt":"2023-03-23T10:30:00","slug":"why-buying-a-home-is-a-sound-decision","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/03\/23\/why-buying-a-home-is-a-sound-decision\/","title":{"rendered":"Why Buying a Home Is a Sound Decision"},"content":{"rendered":"

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$\"Why$ \n

If you\u2019re thinking<\/a> about buying<\/a> a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do<\/a> in the coming years and how that could impact your investment. <\/p>\n

This year, we aren\u2019t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That\u2019s why it\u2019s helpful to keep the long-term<\/a> view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow.<\/p>\n

Home Price Appreciation in the Years Ahead<\/strong><\/h4>\nOver 100 economists, investment strategists, and housing market analysts were polled by Pulsenomics<\/em> in their latest quarterly Home Price Expectation Survey<\/em><\/a> (HPES). The report indicates what they believe will happen with home prices over the next five years. As the graph below shows, after mild depreciation this year, these experts forecast home prices will return to more normal levels of appreciation through 2027.<\/p>\n
<\/a><\/p>\n
The big takeaway is experts aren\u2019t forecasting a drastic fall in home prices nationally, even though some markets will see home price appreciation while others may depreciate. And when they look further out, they see steady price appreciation in the long run. That\u2019s a great example of why homeownership wins over time.<\/p>\n
What Does This Mean for You?<\/strong><\/h4>\n
Once you buy a home, price appreciation raises your home\u2019s value, and that grows your household wealth. Here\u2019s how a typical home\u2019s value could change over the next few years using the expert price appreciation projections from the survey mentioned above (see graph below<\/em>):<\/p>\n
<\/a><\/p>\n
In this example, if you bought a $400,000 home at the beginning of this year and factor in the forecast from the HPES, you could accumulate over $54,000 in household wealth over the next five years. So, if you\u2019re wondering if buying a home is a sound decision, keep in mind what a strong wealth-building tool it is long term.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
If you\u2019re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment. This year, we aren\u2019t seeing home prices fall dramatically. As the year […]<\/p>\n","protected":false},"author":1,"featured_media":3773,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-3772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t