When deciding whether to rent or buy a home, you probably weigh several different factors. If you’re currently renting, you might consider making a purchase because of the financial benefits, but you might also be motivated by the desire to own a place that’s uniquely your own.
When your rental agreement prevents you from upgrading or customizing your living space, you might want to consider the advantages of owning your own home. Below, licensed realtor Moe Mathews, explains how homeownership can bring you joy.
Shopping for a house can make you happy
Well, there is some truth to this! Shopping for a house can be very exciting, especially if you are a first time buyer. Experienced and award-winning business coach Moe Mathews, says his research shows that homeowners experience significant joy.
Home is more than just four walls and a roof. It is where lives are lived, memories are made, and futures are forged. It is here that people find sanctity and security, where children take their first steps, where families and friends gather, and where accomplishments are celebrated.
You own the house
Homeownership provides a great sense of pride. This is because it’s a space that truly belongs to you. In other words, you can paint the walls any color you like, turn up your music, hang permanent fixtures, and decorate your home however you please.
Additionally, homeownership can give you and your family a sense of stability and security. This is an investment in your future – equity that will grow with you as you stay in the home.
You have a say in the home you live in
When you buy a house, you are purchasing an actual property, not a loan against your future income. You get to name the conditions, the layout, the fixtures, and the roof on your house. When you own your own home, you can experience a different sense of pride and freedom, which is difficult to attain when you rent. Remodeling and improving the functionality and aesthetic appeal of a home can result in increased equity at the same time. DIY projects are a great source of self-accomplishment and pride for homeowners, while renters tackling them allow them to live in the home to a higher standard, but in reality only increases the property’s value for the property owner, explains Moe Mathews.
It’s a place where you can put your personal stamp
This one is pretty important! You get to make this decision about the look and feel of your house, and you can do this in the way that you choose. It could be that you love the traditional look, or you love the cottage look. You get to choose what looks good in your house, and feel confident enough to let it be different from the other houses in the neighborhood. People will definitely notice if you change your house too much, as it will affect everyone who lives in and around your house. This could lead to some interesting conversations about your neighborhood.
No matter what stage of life you are in, homeownership can be great for your financial well-being. It can provide you with more flexibility, allows you to make smart decisions, and provides a sense of security. It is also a great way to get involved with the community, meet interesting people, and explore your creative side. Making this move means that you can control your own destiny. You can decide where to live, and how. This decision will affect your life now, and for years to come. So, why the wait? Get started today!