Is Purchasing a Home Still a Good Investment?
With pandemic concerns, many Americans continue to wonder if purchasing a home is a good longterm investment. Because these are new waters for us to navigate, many of us are wondering what is the best option to secure financial security in the future. As real estate professionals, many people are asking us if we think real estate is the best option.
During these unprecedented times, many Americans question what is the best longterm investment choice? Is it better to invest in stocks? Or, is real estate the best option? Maybe some are even thinking about savings or CDs, while others might think gold and bonds are the answer. A recent Gallup.com article explored these options in a poll conducted in early April, after the panic selling.
For the past four years, real estate has been the top investment choice for Americans. And, for the fifth straight year, real estate is still the top choice for longterm investing. According to this Gallup.com article, 35% of people polled have decided that real estate is still the best choice for longterm investing. While stock market investing did rise 6% from 2019, only 21% of people polled chose the stock market the best longterm investment choice. In comparison, real estate investing has stayed solid at 35% from 2019. To round out the rest of the investing options, 17% are putting money into savings and CDs, 16% investing in gold, and 8% in bonds. Real estate has stayed steady for the past five years, polling at 34% - 35% (McCarthy, Justin. "Stock Investments Lose Some Luster After COVID-19 Sell-Off." April 24, 2020. Retrieved from https://news.gallup.com/poll/309233/stock-investments-lose-luster-covid-sell-off.aspx).
There are many different avenues in which people can invest their money but real estate is still the best bet. Even as the housing market stays in a seller's market, many people are still buying and selling real estate. Purchasing a house is more than just providing a home for your family. Home buying is a longterm investment for your future. While there are always going to be uncertainties with the economy, whether it be from a virus pandemic or a foreign faction, Americans will always need places to live. Not only will investing in real estate provide you and your family with a place to create memories and establish roots, but in the longterm, it can be another source of income if sold or leased.
Tyre Realty Group's agents are skilled in helping our clients purchase to protect your investment. There are many factors in consideration when purchasing a home: longterm value, location, and current market value, to name a few. Our agents are skilled and knowledgeable to help you make the best choice for your present and your future. Whether you are buying or selling, contact us today for your free real estate consultation.