Why Owning a Home Is Worth It in the Long Run

Why Owning Chicago Homes Is Worth It in the Long Run

Today’s mortgage rates and home prices may make you wonder if now is the right time to invest in a home. While current market factors are important, the long-term benefits of homeownership in Chicago are undeniable.

Ask anyone who purchased a home 5, 10, or even 30 years ago, and you’ll rarely find regret. That’s because over time, home values tend to increase, significantly boosting homeowners’ net worth. This is a powerful incentive for real estate professionals, buyers, and sellers to understand the value of investing now.

Home Price Growth Over Time
Data from the Federal Housing Finance Agency (FHFA) shows that over the last five years, home prices nationally have increased by more than 57%. While these gains vary regionally, the upward trend is consistent. For Chicago homes, this appreciation underscores the wealth-building potential of owning property.

Looking at a 30-year timeline, the story becomes even more compelling. Nationally, home prices have appreciated by over 320%. This means a homeowner who bought a property three decades ago likely saw their investment triple in value. These kinds of gains highlight why so many people who invested in homeownership years ago are thrilled with their decision today.

MPG is Here to Help
Navigating today’s complex real estate market can feel overwhelming, but you don’t have to do it alone. MPG is here to guide you every step of the way. With insights from real estate professionals and trusted real estate agents, we can help you make informed decisions that align with your goals.

Bottom Line
Chicago homes offer incredible opportunities for long-term wealth building, even in today’s challenging market. Connect with us---our team is committed to making your real estate journey a success.