“Home” isn’t about the structure. It’s about the kitchen – the gathering place. And the room with the biggest TV, where we cheer for our favourite teams. “Home” is about the pencil marks on the doorframe that chart how big the kids are getting. It’s about the backyard swing and enjoying the sun-drenched deck while sharing a morning cup of coffee.
Nearly 7 in 10 Canadian “households” own their home. We want a place where we can paint the walls our favourite colour, change the light fixtures and decorate to our own taste. Home ownership gives us a sense of stability and security, as it builds our investment for the future.
The media treats “Home” like a commodity that requires constant monitoring, and sometimes, maybe we do too. But really, Return on Investment is a bonus of home ownership. Sure, some areas have witnessed record-breaking year-over-year gains, while in others the upward trend is dampened. But, keep in mind that markets do change as nothing goes straight up all the time.
Let’s look at it from another perspective – long-term equity growth. If a property increases in value at an average of 3.25% a year, the home doubles in value in about 22 years. While not scientific, and conservative by today’s values and housing market forecasts, it’s a sustainable growth-factor over the longer term.
Yes, “Home” is about family, friends and lifestyle. A very real plus is that, over the long-term, we’ve seen that “home” beats most investments – because first, it is a place to make memories. And over time, no matter what else, it’s an investment with payback.
Considering buying or selling this summer? Make your move based on solid information, smart planning and excellent representation. Contact us today for a free consultation & see how we can help you!
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