Unpacking the Long-Term Benefits of Homeownership
By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
If you're considering purchasing a home in Delaware soon, you may be wondering if it makes sense to do so at this time due to rising mortgage rates, rising home prices, and persistent affordability concerns. Though those market factors are significant, there are other factors to take into account. It's important to consider the long-term advantages of homeownership as well. Consider this: you're probably not going to find many people who regret their home-buying decision if you know people who did so five, ten, or even thirty years ago. For what reason is that the case? The explanation has to do with how house values increase over time and how that increases your personal wealth indirectly. This could be the reason that 76% of participants in a recent Fannie Mae survey said they thou...
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