Why Most Buyers Are Glad They Bought: A Long-Term View for Prescott

If you are thinking about buying a home in Prescott or the surrounding Yavapai County communities, the question is probably bigger than today's mortgage rate: Will I still feel good about this decision a few years from now?

A new national survey offers some perspective. The October 12 housing report cites NerdWallet research showing that 74% of recent buyers were glad they bought their current home, while 3% regretted it. That is encouraging, but it is not a reason to stretch your budget. The useful takeaway is to look at homeownership over the years you expect to live in the home, not only through today's headlines.

Most Recent Buyers Are Glad They Made the Move

The survey does not tell us that every purchase was easy or that every buyer made money. It tells us how those buyers felt about their decision. A home can give you a place that fits your life, room to make it your own, and the chance to build equity over time. Those benefits still need to be weighed against the payment, upkeep, and flexibility you give up when you buy.

The Five-Year View Is Different From the Daily Headlines

The report cites Federal Housing Finance Agency data showing that national home prices rose 33.4% over the past five years. It also cites Bankrate research reporting an average wealth gain of nearly $150,000 for homeowners over that period, with equity rising across 90% of major metro areas.

These are national historical figures, not a forecast for your next home in Prescott, Prescott Valley, Chino Valley, or Dewey-Humboldt. They do not promise a particular return, and an average does not describe every homeowner. What they illustrate is why the length of time you own a home matters.

Equity Builds Through More Than Price Growth

Your equity is the home's value minus the amount you owe on it. Paying down the loan can increase that ownership stake. An increase in value can help too, while a price decline can reduce it.

Equity is not the same as cash in the bank or profit after a sale. Interest, maintenance, taxes, insurance, improvements, and selling costs all affect the financial picture. If you may need to move again soon, those costs deserve extra attention before you buy.

A Longer Timeline Helps Put Market Swings in Context

The same report cites FHFA data showing national home prices up 336% since 1991. That long-term trend includes shorter periods when prices fell. Buying a home does not protect you from those swings, and holding it longer does not guarantee a gain.

It does give you a different planning question: Can this home and this payment work for your life long enough that you are not forced to sell at an inconvenient time?

What Prescott-Area Buyers Should Check Before Making an Offer

Before we turn a national headline into a local buying decision, let's work through the numbers for the home you are actually considering:

• The full monthly cost: Principal and interest are only part of it. Include property taxes, insurance, any HOA fees, utilities, and a maintenance allowance.
• Your cash cushion: Leave room after the down payment and closing costs for repairs and unexpected expenses.
• Your likely timeline: Think about work, family, and whether you expect to stay in the area.
• The home's condition: Inspection findings and near-term repairs belong in the budget, not outside it.
• The local price: Review comparable homes and current competition rather than assuming a national trend applies to this property.

Buying can make sense when the home fits, the payment is comfortable, and the plan holds up without relying on a future refinance or a guaranteed price increase. Waiting can make sense when those pieces are not in place.

The Bottom Line

Most recent buyers in this survey were glad they bought. The long-term price data helps explain why ownership can be worth considering, even when the short-term outlook feels uncertain. But your decision should come back to your budget, your timeline, and the right home.

If you are weighing buying versus waiting in the Prescott area, let's compare your options and look at what ownership would actually cost. A clear plan is more useful than trying to guess the perfect moment.

Source: Why Most People Are Still Glad They Bought a Home, October 12, 2026. Survey and price figures are attributed to NerdWallet, FHFA, and Bankrate in that report. National historical results are not a prediction of local performance.