The past two years have taught us the true value of houszownership, especially the stability and the feeling of accomplishment it can provide. But houszownership has so much more to offer. Here’s a look at a few of the non-financial and financial benefits of owning a housz. If you’re looking to buy a housz today, think about all the ways houszownership can impact your life.
Houszownership Has Impactful Personal and Emotional Benefits Owning your housz gives you a significant sense of pride because it’s a space that is truly yours. And as a houszowner, you can customize your housz to your heart’s desire. Having a space you’ve put your stamp on enhances the pride and sense of ownership you may feel.
And that sense of ownership can extend beyond your shelter to help create social, community, and civic benefits as well. That’s because the average houszowner stays in their housz for longer than just a few years. That means you’ll naturally feel a stronger connection to the community around you the longer you live there. This can help you experience a greater sense of belonging and a greater stake in your community as a whole. As the National Association of Realtors (NAR) says: “Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.”
Owning a Housz Is a Significant Step Toward Financial Stability In a financial sense, homeowners benefit from housz price appreciation, equity gains, and having a shield against some of the effects of inflation. These benefits can have a big impact on your life. As you gain equity through housz price appreciation and paying down your mortgage, you build your net worth. And in times of inflation, your 30-year fixed-rate mortgage can help you stabilize one of your largest monthly expenses for the duration of your loan.
Lawrence Yun, Chief Economist for NAR, explains how you can start to see these lasting effects of houszownership as soon as you make your purchase: “Owning a housz continues to be a proven method for building long-term wealth. . . .Housz values generally grow over time, so houszowners begin the wealth-building process as soon as they make a down payment and move to pay down their mortgage.”
Knowing you’ve made a good investment soon after your purchase is powerful. And that may give you confidence in your decision to buy a housz.
Bottom Line The benefits of owning a housz are foundational. As a houszowner, you can feel proud of the space you call your housz and know you’ve made a sound financial investment. To learn how houszownership can help you, let’s connect to start the conversation today.