With higher mortgage rates and a competitive market, many folks are wondering if now is the right time to buy a home. Of course, the financial aspect of buying a home is always an essential part of the conversation–and likely the highest priority on your list of pros and cons.
However, aside from finances, there are also powerful non-financial reasons to make a move. Here are just a few of the emotional benefits that come with homeownership.
Your Nest, Your Style, Your Happiness!
Owning your own home means you have complete creative control over a space that you can customize to your exact style and preferences. Customizing YOUR nest in YOUR way can make you feel safe, comfortable, and content.
It’s research based! A report from the National Association of Realtors (NAR) shows that remodeling your home or making updates can help you feel more satisfied, at ease and happy in your home.
Renting often does not offer the same freedom to remodel and update as you wish. Even if you are allowed to make changes as a renter, you’ll often be required to revert them back at the end of your lease. (Read: additional costs, stress, and work!)
Say goodbye to thin, shared walls, noisy neighbors above you, and awkward elevator rides. Owning your own home can offer you greater privacy and freedom in your own space. Whether you’re looking forward to holiday entertaining, designing your backyard space, or just peace and quiet at the end of a long day, home ownership offers the privacy to make your home yours.
Sense of Accomplishment
Instead of taking care of a living space that belongs to someone else, when you own your home, the space is all yours. And with great effort comes great reward! The sense of achievement from reaching your goals can bring immense feelings of pride.
Put Down Roots
Your home is like an anchor, securing your place in your community. When you own your home, you’re more likely to stay longer in one place, leading to a stronger connection to your local area. By making an investment in a home, you’re committing to one location and putting down roots there.
Increased Community Pride & Engagement
Once you begin putting down roots, you may find a greater sense of connection to the people around you who have done the same. Homeownership allows you to become part of a larger social group–a collection of people all committed to the same area, community, or neighborhood. Let those friendships grow! (Block parties, anyone?) This can lead to a deeper pride in your community and engagement in its workings.
If you’re considering whether you’re ready to own your own home, know that we are here to take the heavy lifting off your shoulders. Assisting our clients at every step of the process, we are committed to providing the best realty service possible. Connect with us, and let’s get started!