Page 13 - TedBookBuyer2023

Long-Term Appreciation: People consider home ownership a good investment because they view it as a long-
term venture. Historically, home prices have risen at relatively steady rates. For example, existing home prices
rose an average of 4% per year between 1980 and 1992. But most recently, in certain areas, home prices have
increased nearly 80 percent in the past 10 years. Additionally, current prices are just over 30 percent more than
they were in 2020 and have increased by almost 16 percent since just last year.

Sacrifices are Worth It: Almost 7 in 10 renters in the NAR home ownership survey said they planned to buy a
home in the future. More than three quarters of these people said they were willing to sacrifice to do that.

The Real Cost of Renting
Over 5 Years:

Rent Total Rent Paid
After 5 years

$2000 $120,000
$2400 $144,000
$2800 $168,000

$3200 $192,000
$3600 $216,000
$4000 $240,000

561.701.7927 | palmmartin.com