Purchasing a home in Colorado is one of the best investments you can make. Americans’ opinion on the value of real estate as an investment is climbing. That’s according to an annual survey from Gallup. Not only is real estate viewed as the best investment for the ninth year in a row, but more Americans have selected it than ever before.
The graph below shows the survey results since Gallup began asking the question in 2011. As the trend lines indicate, real estate has been gaining ground as the clear favorite for almost a decade now:
Let this poll reassure you if you’re considering purchasing a home in Colorado. Even when inflation is high, like today, Americans recognize owning a home is a powerful financial decision. The growing equity in your home is a sure way to build generational wealth.
Because inflation reached its highest level in 40 years recently, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices increase across the board, including goods, services, and housing costs.
When you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increases on one of your most significant budgetary items each month. If you’re a renter, you don’t have that same benefit, and you aren’t protected from these increases, especially as rents rise in Colorado. When Inflation Has Risen in the Past, Home Prices Have Too
Your house is also an asset that typically increases in value over time, even during inflation. That’s because as prices rise, the value of your home does too. Since rising home values help increase your equity and, by extension, your net worth, homeownership is historically a good hedge against inflation.
Buying a home is a powerful decision. It’s no wonder why so many people view it as the best long-term investment, even when inflation is high. When you buy, you help shield yourself from increases in your housing costs, and you own an asset that typically gains value with time.
If you want to better understand how buying your first home in Colorado could be a great investment for you, contact Smart Start Homeowners today! Our team is with you every step of the way. Find out more now.
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