{"id":1441,"date":"2021-02-02T15:54:49","date_gmt":"2021-02-02T15:54:49","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1441"},"modified":"2021-02-02T15:57:20","modified_gmt":"2021-02-02T15:57:20","slug":"want-build-wealth-buy-home-year","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/want-build-wealth-buy-home-year\/","title":{"rendered":"Want to Build Wealth? Buy a Home This Year."},"content":{"rendered":"
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Want to Build Wealth? Buy a Home This Year.<\/p><\/div>\n

Every year, households across the country make the decision to rent for another year or take the leap into homeownership. They look at their earnings and savings and then decide what makes the most financial sense. That equation will most likely take into consideration monthly housing costs, tax advantages, and other incremental expenses. Using these measurements, recent studies show that it\u2019s still more\u00a0affordable<\/a>\u00a0to own than rent in most of the country.<\/p>\n

There is, however, another financial advantage to owning a home that\u2019s often forgotten in the analysis \u2013\u00a0the wealth built through equity when you own a home.<\/strong><\/p>\n

Odeta Kushi,\u00a0Deputy Chief Economist<\/em>\u00a0for\u00a0First American<\/em>, discusses this point in a recent blog post. She\u00a0explains<\/a>:<\/p>\n

\u201cOnce you include the equity benefit of price appreciation, owning made more financial sense than renting in 48 out of the 50 top markets, with the only exceptions being San Francisco and San Jose, Calif.\u201d<\/em><\/p><\/blockquote>\n

What has this equity piece meant to homeowners in the past?<\/strong><\/h4>\n

ATTOM Data Solutions,\u00a0<\/em>the curator of one of the nation\u2019s premier property databases, just analyzed the typical\u00a0home-price gain<\/a>\u00a0owners nationwide enjoyed when they sold their homes. Here\u2019s a breakdown of their findings:<\/p>\n

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2020 Home Price Gain<\/p><\/div>\n

The typical gain in the sale of the home (equity) has increased significantly over the last five years.<\/p>\n

CoreLogic<\/em>, another property data curator, also weighed in on the subject. According to their latest\u00a0Homeowner Equity Insights Report<\/a>, the average homeowner gained\u00a0$17,000 in equity<\/strong>\u00a0in just the last year alone.<\/p>\n

What does the future look like for homeowners when it comes to equity?<\/strong><\/h4>\n

Here are the seven major home price appreciation forecasts for 2021:<\/p>\n

\"\"

Seven Major Home Price Appreciation Forecasts for 2021<\/p><\/div>\n

The\u00a0National Association of Realtors\u00a0<\/em>(NAR) just\u00a0reported<\/a>\u00a0that today, the median-priced home in the country sells for $309,800. If homes appreciate by 5% this year (the average of the forecasts), the homeowner will increase their wealth by $15,490 in 2021 through increased equity.<\/p>\n

Bottom Line<\/strong><\/h3>\n

As you make your plans for the coming year, be sure to consider the equity benefits of home price appreciation as you weigh the financial advantages of buying over renting. When you do, you may find this is the perfect time to jump into homeownership.<\/p>\n

 <\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h4>\n","protected":false},"excerpt":{"rendered":"

There is a financial advantage to owning a home that\u2019s often forgotten, the wealth built through equity when you own a home. Finish Reading Want to Build Wealth? Buy a Home This Year.<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[59,196,38,240,306,129,190,10,18,27,91,128,25,42,63,12,48,13,26,239,28,47,19,78],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1441"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1441"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1441\/revisions"}],"predecessor-version":[{"id":1445,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1441\/revisions\/1445"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}