There are many financial and personal reasons why you should own your own home rather than rent. The obvious reasons include pride of ownership, building your own equity instead of someone else’s, no more landlords, and of course tax benefits. In addition, consider these other reasons why owning your own home can make your life better.
1. You may feel a sense of freedom when you have achieved this major goal in life. Many first-time homebuyers find that once they have bought a house, other aspects of their personal lives seem to fall in place. The security and peace of mind that come with home ownership are great accomplishments, and buyers find their other goals become much easier to attain.
2. There is a great sense of belonging to a community once you own a home. You begin to feel more attached to a location and its people. You may find yourself more involved with community events and planning issues.
3. Home ownership can be a strong anchor for your life. You now own something that represents a strong commitment and a sense of stability. You won’t have to worry about a landlord telling you it is time for you to move, your children won’t have to worry about whether they will have to change schools, and you can plan for the future.
4. By owning a home, you will find yourself in more control of your immediate surroundings. You can change things and decorate to your tastes, and not be limited by the standards of a landlord. You do not have to seek someone else’s approval if you decide to remodel or alter the landscaping.
5. If you have children, you will find that they feel more secure when coming home to a house that is not owned by someone else. They are free of the worries of moving, making new friends, reforming their lives because of the decision of someone else. You will probably get to know your neighbors. If they have children, lifelong friendships can be formed.
6. You will feel pride when you own your own home. You have proven to yourself that you can achieve monumental goals and can give your family the security it needs to move forward in life. Once you have built up equity in your first home, you can leverage your equity to purchase a nicer home later.
Come by our Coldwell Banker office and talk about how you can become a homeowner and start a real estate investment portfolio to last a lifetime.