Use the 5-Year Rule to decide if it’s time to buy a home 🏡

One of the biggest questions that I'm getting right now is "Should I still buy a home today?", and here's what I can tell you: While the headlines are focused on the market cooling in the most recent months, they don't really paint a full picture why homeownership is worth it in the long run. While those short term changes matter, homeowners win in the long run, and I can prove it.

We know that home values typically rise over time, we've certainly seen that in the past few years or so. But, here's what I really want to focus on. On average, home prices have risen by 290% over the past 30 years. That's almost a 300% growth.

Now, why does it matter if you're thinking about buying a home? Well, it goes to show that homeownership wins over time. As home values grow and you pay down your mortgage, you build equity, and that gives your net-worth a big boost with time, you could be sitting on a significant amount of equity.

To take this a step further, have you heard of the "5-Year-Rule" in real estate? Well, the 5-Year-Rule is just a rule of thumb that says that you should only buy a home if you plan to live in it for at least 5 years. See, markets to through ups and downs, but history has shown that most real estate purchases appreciate enough in five years to make them a good investment. Of course, the longer you own a home, the more likely you are to benefit from its appreciation.

Homeownership is a play that wins in the long run so if you're ready to invest at Lake Wallenpaupack and you're ready to invest in your future, let's connect. My name is Will Clauss. I'm an Associate Broker with Davis R. Chant Realtors and I'm here to help answer any real estate-related questions you might have.

Want to talk details about how your personal situation and our local market trends are affecting your homeownership plans? Reach out using the contact info below, or send us a direct message.

📲 (570) 470-4658
☏ (570) 226-4518
📧 will@will.realtor
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