There are a number of reasons to purchase real estate, from having a place to call your own to providing a sense of safety and stability for your family. But one of the biggest reasons people buy homes is for the investment opportunity. According to a recent survey, the majority of Americans think real estate is a sound financial investment.
According to the 2019 Survey of Consumer Expectations from the Federal Reserve Bank of New York, nearly 65 percent of households surveyed reported that buying a home in their zip code was a good investment. And current homeowners are more than willing to invest in their properties to increase their value; 38 percent of homeowners plan to spend at least $5000 on their home in the next year—and over the next three years, that number jumps to nearly 48 percent.
Whether you’re purchasing a new home or renovating your existing home to increase its value, in today’s market real estate is a sound financial investment—and a financial investment you should definitely consider making.