John Wesley BrooksThe Many Benefits of Homeownership
The past two years and a half have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer and gained a deeper meaning for many. Here’s a look at a few of the non-financial and financial benefits of owning a home. If you’re looking to buy a home today, think about all the ways homeownership can impact your life.
Homeownership Matters.
Homeownership Has Impactful Personal and Emotional Benefits
Owning your home gives you a significant sense of pride because it’s a space that is truly yours. And as a homeowner, you can customize your home to your heart’s desire. It is very different when you are renting or living with your parents. Owning your own house gives you a personal satisfaction. Having a space you’ve put your stamp on enhances the pride and sense of ownership you may feel.
And that sense of ownership can extend beyond your shelter to help create social, community, and civic benefits as well. That’s because the average homeowner stays in their home for longer than just a few years. We see it all around our North Alabama. Young adults, families with children, retirees, and single people. That means you’ll naturally feel a stronger connection to the community around you the longer you live there. This can help you experience a greater sense of belonging and a greater stake in your community as a whole. As the National Association of Realtors (NAR) says:
“Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.”
Financial Stability
Friends, owning a Home Is a Significant Step Towards gaining that financial stability and sense of security you desired. Basically, homeowners benefit from home price appreciation, equity gains, and having a shield against some of the effects of inflation. These benefits can have a big impact on your life. As you gain equity through home price appreciation and paying down your mortgage, you build your net worth. And in times of inflation, your 30-year fixed-rate mortgage can help you stabilize one of your largest monthly expenses for the duration of your loan. Best yet, you are investing in you and your family’s stability and future. As many experts agree, Real Estate is the best investment you can have.
Lawrence Yun, Chief Economist for NAR, explains how you can start to see these lasting effects of homeownership as soon as you make your purchase:
“Owning a home continues to be a proven method for building long-term wealth. . . . Home values generally grow over time, so homeowners begin the wealth-building process as soon as they make a down payment and move to pay down their mortgage.”
Knowing you’ve made a good investment soon after your purchase is powerful. And that may give you confidence in your decision to buy a home.
Cheers to the benefits of owning real estate
The benefits of owning a home are foundational. As a homeowner, you can feel proud of the space you call home and know you’ve made a sound financial investment.
You gain experience, you become more responsible making sure your mortgage payments are never missed, you gain maturity, you have peace of mind knowing you are payment your own mortgage not someone’s else’s.
To learn how homeownership can help you, let’s connect to start the conversation today.
Remember to always reach out to your trusted Real Estate Professional and if you are in the North Alabama area John Wesle Brooks and The Brooks Family Of Realtors are ready to assist you and help you achieve your real estate dreams!
Serving The Tennessee Valley since 1972!
