The question of whether to continue to rent or to start your homebuying process is a common one, especially when rates are low. Sometimes it is hard to think seriously about spending the next decade or more in debt… to build equity? You already have a space to call your “own,” so what is the difference?
Well, homeownership is more than having a roof over your head and much more than building equity. From health benefits to better financial situations and more, you can feel great about your purchase with these five benefits of homeownership.
Who knew buying a home could give you the chance to have higher levels of happiness and a more positive outlook on life? Owning a home can result in a heightened sense of control, social status and accomplishment. This can lead to better self-esteem and psychological health! When you’re in safe conditions and have peace of mind, everything else can be managed.
When you’re not spending your time worrying about finding your next apartment or how many months are left on your lease, you can volunteer in your community, participate in politics, vote, and join nonprofit organizations.
Make your home a place of comfort and relaxation. Check out Pinterest to get ideas of how fill your space with easy DIY projects and delicious recipes to make for weekend gatherings. Bonus: If you ever had trouble planning where to go for the holidays with your relatives, you can now be the host instead!
Benefits for the Kids.
Your children will also benefit with studies showing that children of homeowners have higher test scores, higher rates of high school graduation, and are more likely to participate in organized activities. This can lead to decreased behavioral problems and an increase in their life satisfaction down the road!
Owning a home gives your thoughts of the white picket fence, a dog in the yard, and a cozy front porch a chance to be more than a daydream. From ages 2 to 92, having a place to call your own is an essential part of life. Watching Sunday football games and baking holiday treats in the kitchen will always be something to look back on, no matter who you are.
As you can see, when buying a home, you get more in return than a piece of land and a wooden structure. Want to take advantage of these benefits and make your life easier? Check out Home Hacks that are Essential for 2017. You’ll be amazed at just how much your home can do for you.