Have you ever wondered what the long term benefits of owning a home are? As a buyer in today’s market you may be feeling a little uneasy with the current market, rising mortgage rates and economic conditions, but it is also important to consider the long term benefit of homeownership when making your decision to buy. Hi, I’m Tanja Odzak, Our East Bay Home and eXp Realty. and I sell homes in Oakland, Berkeley, and the East Bay.
Ya know, Most likely if you speak to someone who has been in their home for a long time, they do not regret their decision to have bought a home due to the equity they have built over the years… well, THAT and the fact that the house payment stays the same. Today, home Equity is the shining star of the housing market.
According to the National Association of Realtors, “Home equity gains are built up through price appreciation and by paying off the mortgage through principal payments” and although we are seeing the market shift, many East Bay cities still show that average sold home prices are still up over last year. There are ALWAYS ups and downs if you watch home values super closely, but if you are planning to remain in your home for a length of time, you should see this growth over the years. This is the “long term investment benefit” that will increase your net worth an d set you up for long term financial gains.
According to Odeta Kushi, Deputy chief economist for First American, “Homeowners nationally had an average of $320,000 in inflation adjusted equity in their homes in the second quarter of 2022, an all time high”. AND for some homeowners, home equity is the only source of creating more wealth.
The thing is… if you are in a position to buy, there is more to think about than home price and interest rates when it comes to achieving your home ownership dreams. There are many benefits… particularly, that long term investment benefit for your future.
Connect with me so we can help you with any of your real estate needs if you are planning on buying or selling a home. And if you need to Buy AND sell, ask me about my tiered home selling plans where you get to pick which real estate services you want and the fee you pay… Most of the them offering my super duper digital marketing that… no one else does in our area. I’m Tanja and I sell houses in Oakland, Berkeley, and the East Bay. I offer simplified and transparent choices!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?