What Are the Benefits of Owning a Home?
Nine amazing benefits of homeownership that should convince you to buy.
The journey to homeownership may be challenging, but it’s also rewarding. It comes with many benefits, and today I want to share some of them:
1. It satisfies your primal need for territory. It is human nature to want a place that you can design according to your needs.
2. It’s a great investment. According to statistics, homeowners are worth $250,000 more than renters on average.
3. Children of homeowners are more social. Studies have shown that children of homeowners do better in school, have less antisocial behavior, and are less likely to be involved with drugs.
4. Homeowners have better health. You can enjoy a better lifestyle and health by owning a home.
"Studies show that 60% to 70% of people who think they can’t buy a house actually can."
5. You can hedge against inflation. Your house will increase in value over time during an inflationary period.
6. You don’t have to worry about rent increases. When you rent, there’s a possibility that your landlord will raise the rent. However, when you buy a home, you can lock in your rate and have the security of knowing your monthly payment will remain the same.
7. You have a higher sense of worth. By having your own turf, you gain better self-esteem and sense of worth.
8. You can build up equity. You can use the equity in your home to fund your other necessities such as your kids’ college funds.
9. Buying a home can help society as a whole. When you buy a home, you have to work with other people such as designers, landscapers, pest control, etc. This ultimately creates jobs, helping the whole community.
If you’re impressed by all these benefits but doubt you can afford a home, here’s some interesting data: studies show that 60% to 70% of people who think they can’t buy a house actually can. If you’re interested in buying a home or have any questions about real estate, call or email us. We’re here to help!