Our homes have become an integral part of our lives recently — hello quarantine sanctuaries! They’re so much more than where we live. Homes have become our workplaces, virtual schools, and safe havens that provide shelter, stability, and protection through an evolving health crisis.
As we continue to think about the future and what we want to achieve well beyond 2021, it’s a great time to look at the benefits of owning a home. From feel-good motivations to economic and social impacts on the local community, homeownership stretches well beyond your financial investment.
Owning a home brings a sense of happiness, satisfaction, and pride — let’s bring on those feel good vibes!
- Pride of Ownership: It feels good to have a place that’s truly your own, especially since you can customize it to your liking. No more worrying about holes in the wall or getting permission to paint your bedroom that deep chartreuse you have always dreamed of!
- Civic Participation: Homeownership creates stability, a sense of community, and increases civic engagement. Be active in the area you choose and add to its strength — take pride in opening the neighborhood app and knowing this is where you chose to make a home.
Buying a home is also an investment in your financial future. Who doesn’t love that?
- Net Worth: Homeownership builds your net worth.
- Financial Security: Equity, appreciation, and more predictable monthly housing expenses are huge financial benefits of owning a home. Homeownership is truly the best way to improve your long-term financial position.
Homeownership is even a local economic driver — improve your community even more!
- Housing-Related Spending: An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country’s economic activity over the past three decades.
- Entrepreneurship: Homeownership is also a form of forced savings that can provide entrepreneurial opportunities. Starting or expanding a business, which can help generate new jobs in your area (go you!), is easier when using your home as collateral for small business loans.
The benefits of homeownership go well beyond the basics. Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact in your community. If owning a home is part of your dream this year, let’s connect so you can begin the homebuying process today.