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Buy For the Love of the Home - Not the Return

By madhu on May 20, 2015
For generations, home buying was typically viewed as the smartest investment you’d ever make because you’d never lose money. And for more than three decades until 2004, median home prices rose, on average, more than 6% a year, and never declined during that period.

Home buying trends in 2015

That Was Then … For generations, home buying was typically viewed as the smartest investment you’d ever make because you’d never lose money. And for more than three decades until 2004, median home prices rose, on average, more than 6% a year, and never declined during that period.

This Is Now … To say the housing bubble shook up the country’s beliefs about homes as a safe investment haven is an understatement.
Homeowners saw their property values drop by 10% between 2007 and 2009—which may be why a lot of people had said that they no longer view property as one of the best ways to build wealth.

In Sydney,with the introduction of GST… In the early 2000s, home values increased as much as 10% in less than a year, leaving buyers feeling eager to get in the game and make a quick return on their investment.

But we all know what happened to the inflated real estate market in 2008, which taught us that real estate was never meant to be a place to make a quick buck. It’s a place to live first—and an investment second.

You should want to purchase to plant roots and make memories for the next five to ten years. There are emotional benefits of homeownership that can’t be bought or sold.

Article written by madhu

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