How do you build long-term wealth? Homeownership is key: as real estate appreciates and grows in value, you build equity and wealth. If you – or your family or friends – are thinking about making the move from renting to owning, here are five reasons this might be the year.

Stabilizing Mortgage Rates. Rates are holding steady in the 5.5 to 6.5% range. With guidance from a professional mortgage consultant like our partners at Prosperity Home Mortgage, you can secure a rate that suits your needs and even set yourself up to refinance later if rates drop.

Increasing Property Values. Home sale prices have been rising across the country, driving increased property values for homeowners. Homeownership is a powerful tool to create long-term wealth, as you build equity in your home through your mortgage payments.

Potential Tax Benefits. Some costs of homeownership, such as mortgage interest and property taxes, often may be eligible for tax deductions. Make sure to consult your tax professional to determine which benefits you can take advantage of if you own a home or purchase one soon.

Design Freedom. As a homeowner, you can choose how to decorate and design your property—there’s no asking a property owner’s permission to paint a few walls or retile a bathroom. It’s a flexibility that lets you make your home truly your own.

Growing Inventory. Experts predict more homes will be on the market this year, creating more opportunities for first-time and move-up buyers. If you want to stay updated on what’s available in your desired markets, let me know.

Partnering with a professional agent, like those at Long & Foster Real Estate, ensures a seamless process, whether you’re buying or selling. With our market expertise and all-inclusive real estate services—including mortgage, title, insurance, inspection, moving and more—we’re here to make your journey to homeownership smooth and successful. Ready to explore? Connect with an agent today.