Real Estate Is a Solid Long-Term Investment
 

Buying a home can be a life-changing decision and one that many people take seriously.

Part of becoming a responsible homeowner is weighing every aspect of the decision before buying, including lifestyle preferences, job and financial situation and affordability. Fortunately for anyone who’s considering buying a home right now, current housing affordability conditions can benefit today’s buyers for years to come.

Homeownership is how many American families begin to accumulate wealth.

- Given the leverage in purchasing a home, the average return on a 5 percent down payment over 10 years is usually three to five times greater than stock market returns.

- If you bought a house 10 years ago, it would be worth almost 27 percent more today.

- Real estate has delivered the best return of any investment over the last 40 years.

- The typical homeowner’s net worth ($205,200) was 49 times that of the typical renter ($4,200) in 2008, according to NAR calculations using statistics from the Federal Reserve Board.

Illinois REALTORS® are working in several ways to help you understand conditions in your local market and take advantage of the opportunities to invest in real estate.

- REALTORS® provide consumers with the latest information on home sales and prices and what factors are likely to drive the market in the months and years ahead;

- REALTORS® can help educate prospective homebuyers about the various loan products available to them; and

- REALTORS® are working with lawmakers to provide more affordable financing options that will enable homebuyers and homeowners to keep their homes for the long term.