4 Benefits You Achieve from Homeownership
Owning a home is more than just an address. The investment you make when you become a homeowner includes a wide variety of benefits from building financial stability to strengthening your community. Here are four great benefits that homeowners can achieve from buying their own home!
Make Your Home Your Space
If you make the move from renting to owning, you no longer need to worry about a landlord dictating what you can or cannot do. You are the boss which means you have the freedom to create your dream kitchen, design the perfect office space, re-paint the walls, or customize your yard for your pets. Homeowners appear to be more focused on creating a space they love more than ever.
Invest and Build Wealth for the Future
It’s probably not a surprise to learn that homeownership is a great financial investment to make. In fact, data from the Federal Reserve indicates the net worth of a homeowner is over 40 times greater than that of a renter. Homeowners simply build their wealth by paying their mortgage and contributing to a “forced savings.” Mortgage payments contribute towards your net worth by increasing the equity you have invested in your home.
Achieve Financial Stability
The average rent increase per year is somewhere between 3% and 5%. Homeowners, however, can take advantage of home loans that have steady, affordable monthly payments which can help stabilize budgets.
Strengthen Your Community
From being in the best neighborhoods to the best school districts, stability, safety, and security are major reasons for purchasing a home in the best possible location. Living, contributing, and being part of a strong community is also important for so many homeowners. It truly defines what “home” is – your community, your town, your neighborhood, your home.
Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a wonderful time to think about buying a home. Contact any of our Loan Officers today to start the process!
When it comes to buying a home, plenty of financial reasons make a convincing argument to make the move to buy. Emotional reasons, however, are really the more compelling force on why people buy homes.
Sometimes being in love with your home isn’t about making huge changes. Instead, it’s about learning to appreciate the little things. Paring down, brushing on a fresh coat of paint, hanging new curtains or just changing the way you look at things can make your home a happier dwelling. In the spirit of Valentine’s Day, we have a few thoughts on how to fall in love with your home again!
Finally made the decision to go from renter to first-time home buyer? Not sure where to start? Here’s a list of some basic starters that will get you set on your homebuying journey.