The True Value of Homeownership
By offering you happiness and a sense of belonging, purchasing and owning a home can significantly improve your life. The month of June is National owning Month, making it the ideal time to consider all the advantages of owning.
Purchasing a home has financial advantages, of course, but it's also crucial to take into account the non-financial advantages that make a home more than just a place to live.
Here are three ways why having a home may make you feel successful, content, and proud.
You might experience greater joy and fulfillment.
Having a house is linked to greater physical and emotional wellbeing. The National Association of Hispanic Real Estate Professionals' (NAHREP) CEO and Co-Founder, Gary Acosta, explains:
“Studies have shown the emotional and psychological benefits that homeownership has on a person’s health and self-esteem . . .”
Similarly, Habitat for Humanity says:
“Residential stability among homeowners is related to improved life satisfaction, . . . along with better physical and mental health.”
Therefore, owning a property might supposedly enhance your psychological wellness by making you feel happier and more successful.
You Can Get Involved in Your Community and Strengthen Your Sense of Place
You are a part of your community through your home. Due to having more time to develop lasting relationships, homeowners tend to stay in their houses longer than renters, which can make you feel more a part of your neighborhood. Additionally, as Acosta notes, a prolonged stay in one place might result in a person becoming more involved:
“Homeowners also tend to be more active in their local communities . . .”
After all, it only makes sense for someone to want to contribute to the improvement of the place they would be residing in for a while.
Your living space can be improved and customized.
A place that is exclusively yours is your home. Unless there are special homeowner's association regulations, you are free to modify it as you see fit once you own it. Your house may be exactly what you want and need it to be, whether that means making minor home improvements or major renovations. Your house can vary as your preferences and lifestyle do. Investopedia informs us that:
“One often-cited benefit of homeownership is the knowledge that you own your little corner of the world. You can customize your house, remodel, paint, and decorate without the need to get permission from a landlord.”
Renting might make it difficult to customize your living space, and even if you do, you could have to undo your improvements before your lease expires. A higher sense of ownership, pride, and connection to your house is produced by having the freedom to personalize and enhance your living space.
To sum up
Owning a home can alter your life in a way that increases your happiness and sense of fulfillment. If you're eager to learn more about homeownership and everything it has to offer, let's get in touch right away.