Every year, Gallup conducts a poll of Americans to rate their opinion about various investments. And for the ninth year in a row, Americans have overwhelmingly chosen real estate as their top investment choice. Not only that, but more Americans chose real estate this year than they ever have in previous surveys. Let’s take a closer look at the results and why real estate continues to be such a popular investment strategy.
Real estate earns top marks as an investment
Since 2014, Americans have voted real estate to be their top investment choice. But in 2022, a greater number of us have chosen real estate than ever before. In fact, 45 percent of Americans decided that real estate is the best long-term term investment option. Other investments didn’t even come close – stocks came in second at 24 percent, gold in third at 15 percent, savings accounts in fourth at nine percent, and bonds in last place at four percent.
Real estate helps you grow your wealth
Real estate is considered one of the best ways to grow your wealth. Owning a New York home is a big financial investment, but it’s also an excellent way to improve your financial health in the long term. As your home equity grows, so does your net worth.
Real estate increases in value over time
While the real estate market can fluctuate up and down in the short term, it generally always increases in value over time. There are many ways that value can increase, whether it’s making improvements to the property or simply because of inflation.
Real estate protects you from the worst of inflation
Speaking of inflation, owning real estate can also help protect you from rising costs. While rental prices are dictated by the market, monthly housing costs stay the same when you finance with a fixed-rate mortgage.
Real estate lets you leverage your investment
When you own real estate, you are building equity. Equity is the difference between what you owe on your mortgage and what your home is currently worth. As you pay off your mortgage and as home values rise, your equity increases. This allows you to take advantage of things like a home equity loan or line of credit that you can use to make home improvements, fund an education, or even make a down payment on another home.
Real estate connects you with your community
When you own a home, you’re part of a community. And being a homeowner makes you feel more invested in your community. You’re more likely to engage in efforts to improve it. This makes your neighborhood a more attractive place to live, which, in turn, can help to increase the value of your home.
Real estate is an emotional investment
Finally, let’s not forget that real estate is also an emotional investment. As a homeowner, you can create your own personal sanctuary that reflects your values and tastes. It’s the place where you start a family, celebrate milestones, and make memories. Unlike stocks, bonds, savings accounts, and gold, real estate is something that connects you to other people and to the world.
Contact Keller New York today
Are you ready to invest in New York real estate? Then contact the Keller New York Bronx office at 718-697-6800 or the Eastchester – Scarsdale office at 914-713-3270 today. Whether you’re a homeowner, investor, or developer, we can help you bring your real estate aspirations to life!