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<p>During the pandemic, many of us reexamined the meaning of <em>home</em> for ourselves and our loved ones. </p>
You may have seen reports in the news recently saying it’s better to rent right now than it is to <a href="https://www.simplifyingthemarket.com/2023/02/23/how-to-make-your-dream-of-homeownership-a-reality/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">own your home</a>. But before you let that impact your decisions, you should understand what these claims are based on.
Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your <a href="https://www.simplifyingthemarket.com/2023/02/27/one-major-benefit-of-investing-in-a-home/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">net worth</a> got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.
If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a <a href="https://www.simplifyingthemarket.com/2023/02/20/spring-into-action-boost-your-homes-curb-appeal-with-expert-guidance/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">professional</a> can ensure you’ll get the most out of your sale.
After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential <a href="https://www.simplifyingthemarket.com/2023/02/14/why-its-easy-to-fall-in-love-with-homeownership-1/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">homebuyers</a> as the combination of higher mortgage rates and higher <a href="https://www.simplifyingthemarket.com/2023/02/16/wondering-whats-going-on-with-home-prices/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">prices</a> have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.
One of the many reasons to buy a home is that it’s a major way to <a href="https://www.simplifyingthemarket.com/2023/01/27/homeownership-builds-your-wealth-over-time-infographic/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">build wealth</a> and gain financial stability. According to <a href="https://myhome.freddiemac.com/owning/equity-and-appreciation.html"><em>Freddie Mac</em></a>:
According to a recent <em>Harris Poll </em>survey, <a href="https://www.nerdwallet.com/article/mortgages/2023-home-buyer-report">8 in 10</a> Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial <a href="https://www.simplifyingthemarket.com/2022/12/22/what-makes-a-house-a-home/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">benefits</a>, so that interest is understandable.
Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the <em>National Association of Realtors</em> (NAR), <a href="https://www.nar.realtor/blogs/economists-outlook/all-in-the-family-multi-generational-home-buying">says</a>:
In this crazy market, time is money! Don't hesitate to contact Penny, she is ready to go to work for you today!
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