Ten Years from Now

by | Jun 4, 2024 | Uncategorized

We hear that buyers can’t afford to buy a home today; homes are unaffordable because of mortgage rates and home prices.

If we look deeper at the financial picture, one can see the misnomer and will conclude not only can they buy, but they should buy as much as they can, and sooner than later.

For example, ten years ago, the average median home price in the USA was $275,000 and today it’s $425,000. $150,000 in acquired equity. In addition, there would be debt reduction of $36,000, or a total of $186,000 in wealth improvement; a 5.3% compounded annual return. Plus, an income tax deduction might be available, and the $150,000 gain is tax free (up to $250,000 for an individual and $500,000 for a couple).

Where else does an average income person save that much money?

Besides the financial aspects, there are the valuable principles of freedom, security, comfort, quiet enjoyment, and memories.

Owning a home has always been the American Dream. It may look a little different today than it did a few years ago, and we may not get everything we want today, but it continues to deliver extraordinary benefits over time.

We work, we engage, and at the end of the day, we deserve a reward for our effort. A home can reflect that effort. Matching your desired lifestyle with the ideal house enhances your life every day.

Whether it’s a single-family starter home, move up, move down, move sideways, the final dream home, or a low maintenance townhouse or condo, it is out there waiting for you to start enjoying your best life.

History suggests you are wasting opportunity if you wait until tomorrow. Those who act sooner than later usually benefit the most. Sometimes, all we need is a little help in creating the right plan.

Our Dream Home Process is guaranteed to maximize your dollars, save you valuable time, minimize your inconveniences, and give you peace of mind knowing you are doing the right thing at the right time.

We invite you to call or text anytime, 605.359.4100.

Tony Ratchford, licensed Broker, Author, Coach, Manager, and Sales Consultant