Why Homeownership Is A Great Long Term Answer

Share this on:

These days we are greeted by headlines surrounding higher mortgage rates, inflation challenges and the concern about a potential recession. All of this is building up which has many people wondering if they should consider buying a home now or hold off until a later date. While these concerns may be pertinent today it is important for one to think about the long-term benefits of homeownership.

To put it in perspective, most homeowners that bought a property 5, 10 or 25 years ago would most likely not regret their decision. The reason being is that home values grow over time and then by default so does your wealth. According to a recent survey by Fannie Mae, 70% of respondents stated that they believe buying a home is a safe and solid investment.

Across the United States home prices have increased quite a bit with some varying degree per region. According to data from the Federal Housing Finance Agency (FHFA) the national average of home price gains was just over 56% over the past five years. Another data set from FHFA shows a 30 year time frame with a national average of 290% increase in home prices. This means the typical homeowner who purchased a house 30 years ago saw their home almost triple in value over that time frame. That’s a main reason for why so many homeowners who bought their homes years ago are still pleased with their decision.

More recently you may have heard discussions in the latter part of last year that home prices would crash, but that didn’t happen. Even though home prices have leveled somewhat from the record peak we saw during the past few years, prices are already starting to creep back up again in several areas today. This means that in most areas home prices should grow in value over the next year.

Ultimately, the alternative to buying a home would be renting and rental prices have been on the rise for many years now too. So why rent and deal with annual lease increases for no long-term financial benefit? One thing is for sure is that if you are renting there will be no gain in equity for yourself where history proves that there is long term with a property purchase.

Beth Dickerson

Boston, MA

Primary phone
(617) 510-8565
Email
[email protected]
Address
277 Dartmouth St. , 2nd Floor,
Boston, MA 02116

About The Author

One of Boston’s most reputable real estate brokers, Beth Dickerson has achieved more than $2 billion in sales and thousands of successful real estate transactions over her nearly thirty-year tenure. Beth has received national acclaim from the real estate industry and represents some of the most prestigious residents and properties across Massachusetts. Her enduring record as a top producer comes from the intuitive gift of sensing her clients’ needs. She has built a business that is referral-based at its core—a testament to her relationship-driven approach and penchant for exceeding expectations. It is this nuanced expertise that Beth leverages to guide many of her clients-turned-friends through some of the greatest milestones of their lives.

Beth was the proprietor of her own real estate company before joining the residential division of R. M. Bradley in 1993, where she was a top producer for more than a decade. In 2003, she founded her own boutique real estate firm, Dickerson Real Estate, before merging with Gibson Sotheby’s International Realty in 2007. Today, Beth attributes her success to her comprehensive marketing and advertising strategies, exclusive contact network, and unparalleled insight into neighborhoods like Back Bay, Beacon Hill, the South End and Waterfront. With an understanding that no two clients are alike, she works with clients in all phases of life—from first-time buyers to luxury developers, seasoned sellers and beyond. Beth offers clients the resources to aggressively market their property locally, nationally and globally, and her attention to detail, drive and enthusiasm are unmatched.

Beth has appeared in prestigious media outlets including The Wall Street Journal, Mansion Global, The Boston Globe, and Boston magazine, and was prominently featured as Greater Boston’s real estate expert on WCVB Chronicle in 2020. She has had the honor of serving as President of the Downtown Council of the Greater Boston Real Estate Board. For over ten years, she has been a Co-Chair and Committee Member for the Massachusetts General Pediatric Hospital for Children’s Storybook Ball. She serves as a Board Member of the Community Music Center of Boston and a member for the Perkins School for the Blind, Emerald Necklace Park Conservancy, Justine Liff Luncheon, Youth Villages and the Boys & Girls Club of Boston, among dozens of other organizations throughout the Boston area.

A long-time resident of Boston’s Back Bay, Beth was an active member of the community as she raised her two children: she served as treasurer of the Clarendon Street Playground and was an avid supporter of the Hill House Community Center.