The True Value of Homeownership
Purchasing and owning a home can make a significant difference in your life by providing you with joy and a sense of belonging. And, with June being National Homeownership Month, now is an excellent opportunity to consider all of the advantages of homeownership.
Of course, there are financial reasons to purchase a home, but it is also vital to consider the non-financial perks that make a home more than just a place to live.
Here are three ways that having a home may make you feel accomplished, happy, and proud.
You could be happier and more fulfilled.
Homeownership is related to improved mental health and well-being. According to Gary Acosta, CEO and Co-Founder of the National Association of Hispanic Real Estate Professionals (NAHREP),
“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.”
Thus, researchers believe that owning a property can improve your psychological well-being by making you feel happier and more accomplished.
You Can Get Involved in Your Neighborhood and Develop a Strong Sense of Community
Your house connects you to your neighborhood. Homeowners tend to stay in their houses for longer periods of time than renters, which might help you feel more connected to your community because you have more time to cultivate meaningful relationships. And, as Acosta points out, staying in the same region for an extended length of time might lead to people becoming more involved:
“Homeowners also tend to be more active in their local communities . . .”
After all, it makes natural that someone would want to help improve the place where they will be living for an extended period of time.
You Have the Ability to Customize and Improve Your Living Space
Your house is a location that is entirely yours. Unless there are special homeowner's association regulations, you are allowed to personalize it however you see fit once you own it. Whether it's minor home upgrades or major renovations, your home can be exactly what you want and need. Your home may adapt to your changing likes and lifestyle. According to Investopedia:
“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 limits your capacity to personalize your living environment, and even if you do, you may have to undo your improvements before your lease expires. The flexibility to personalize and improve where you live that comes with owning fosters a deeper sense of ownership, pride, and connection to your home.
Owning a home can transform your life and bring you more fulfillment and happiness. If you're ready to learn more about homeownership and everything it has to offer, contact a local real estate agent today.
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