Invest in Your Future with AgentOwned Realty, a Top Brokerage in Charleston SC

Contemplating the idea of homeownership amidst today's mortgage rates? Despite the initial apprehension, two compelling reasons make this an opportune time to consider becoming a homeowner, especially with the guidance of AgentOwned Realty, your local real estate expert in South Carolina.

Home Values Appreciate over Time

While there has been recent confusion about home prices, a closer look reveals a more positive trend. After a slight dip in late 2022, home values have been appreciating at a more normal pace this year, as shown in the graph below:

Over the past 60 years, data from the Federal Reserve illustrates a consistent upward trend in home prices. Despite occasional exceptions, such as the housing crash of 2008, overall, home values have steadily risen. This consistent growth is a compelling reason why buying may be more advantageous than renting. As home prices increase and you pay down your mortgage, you build equity, contributing to the growth of your net worth over time.

Rent Keeps Going Up Through the Years

Another factor favoring homeownership is the perpetual rise in rent prices. Over the past six decades, rents have consistently climbed, as depicted in the graph below:

By opting for homeownership, you can secure fixed monthly housing costs, bidding farewell to the frustrations of annual rent hikes. This stability is a significant game-changer in your financial planning.

In essence, your housing payments are an investment, and the choice is clear: invest in yourself or your landlord. Becoming a homeowner is an investment in your future, as opposed to renting, where your money does not contribute to long-term financial growth.

Considering the consistent rise in home values and the opportunity to escape perpetual rent hikes, homeownership emerges as a path to financial security. Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), emphasizes:

“If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”

Bottom Line

In the grand scheme of things, the benefits of buying a home outweigh renting, even in a climate of higher mortgage rates. If you desire to escape escalating rents and capitalize on long-term home price appreciation, connect with AgentOwned Realty to explore your homeownership options in Charleston SC, one of the best places to live in the South.

If you’re looking for your dream home, or if you need to sell your existing home, we can certainly help, our agents are ready and able! Agent Owned is a full service brokerage that can assist you in getting pre-qualified to loan approval. We can help you with title insurance, home insurance and the warranties you need to protect your most valuable asset. At AgentOwned, we have helped thousands of people buy and sell their homes, we have been in business for over 30 years and know what it takes to get the job done right the first time. 

Each agent has access to a team of qualified professionals from attorneys to mortgage specialists and access to a knowledge base of highly experienced Brokers that can handle any situation. Find the right agent now at: https://www.agentowned.com/all-agents 

To learn more about South Carolina including schools, employment and more see: https://www.agentowned.com/moving-to-south-carolina 

If you’re interested specifically in the Greater Charleston area see: https://www.agentowned.com/moving-to-charleston-sc 

If you’re looking for information about Manning, Sumter and the Lakes Area, see: https://www.agentowned.com/moving-to-manning-sumter 

And if you’re interested in the greater Anderson area see: https://www.agentowned.com/moving-to-anderson