Home Ownership Has Been Good to Me

By
Real Estate Agent with Compass CA DRE# 01215160

June is National Home Ownership Month so what better time to give thought to what home ownership means to me, and to my clients. 

In some of my clients' words:

"We raised our family here. The kids used to have so much fun in the back yard, digging forts, rigging up swings and playing for hours. Oh, I remember those days."

"Sunsets on the corner deck in the back yard, then moving to the front porch for that last peek of the sun and a glass of wine."

"We enjoyed making this our home for many years and the friendly neighbors and small-town atmosphere (also the deer and the many birds.)"

"The great room we built has always been our favorite area, looking out to the back yard and watching the birds, and squirrels that used to play in the white oak tree."

"Many great pool parties and barbecues-perfect for outdoor entertaining."

back yard of a much-loved home

Those are some of the emotional benefits of owning a home; it's where one puts down roots to become part of the community, where children go to school and later become young adults, where one can build, remodel, paint and garden. The bird feeders can be hung, friends can visit. The place you know you can enjoy until you no longer wish to do so.

Then there are the financial benefits many home owners enjoy. With a fixed-rate mortgage, one has security that the cost won't go up over the years.In fact, as one makes that monthly mortgage payment, part of it is savings paying down the loan balance. As real estate appreciates, ones equity rises, creating financial opportunities to pay college expenses, make additional investments, and realize a secure retirement.

My own experience blends both the emotional and financial reasons why I enjoy being a home owner. My starter home was tiny. Once we had two little daughters, we outgrew it in a couple of years, but it made a fantastic rental home with the rent received equaling the mortgage payment of our larger replacement home. Easy-peasy transition. I stayed there for 35 years, updating, remodeling, landscaping, playing the piano at night, inviting friends over, hosting Brownie scout meetings, and enjoying the neighborhood children who would come to play with my girls. When rates dropped, I refinanced, taking some money out for college expenses and changing to a 15-year mortgage, with the net result only a couple hundred dollars a month more than the original mortgage. Those 15 years flew by and soon the home was ours, free and clear. How nice was that when it came time to sell!

Do I believe in the benefits of home ownership? Absolutely; I've been fortunate enough to experiences them first hand. Is it right for everyone? Probably not. Is it right for most? I believe so.

 

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Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Lotte,

What a lovely story  of home ownership and how you enjoyed your home, and your daughters growing up.  This was beautifully told. A

Jun 12, 2019 12:36 PM #15
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Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Lottie you've spelled out the beauty that home ownership can bring to a family! We are so blesses as well and absolutely love our home filled with lots of good friends, family and thousands of good memories!

Jun 12, 2019 03:28 PM #16
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Thanks, Ron and Alexandra Seigel . When it comes from the heart, it's not hard to tell the tale. I'm a strong proponent of home ownership.

Jun 12, 2019 06:56 PM #17
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hello Anna Banana Kruchten CRB, CRS 602-380-4886 - I know from your posts over the years how much you enjoy your home. We are definitely fortunate people. 

Jun 12, 2019 06:57 PM #18
Rainmaker
2,475,737
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Home is where the heart is and so many great memories are made at home!

Jun 13, 2019 08:55 AM #19
Rainmaker
1,290,344
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Lottie,
Owning a home does have many emotional and financial benefits... especially when you get to the point of those beautiful words "Free and Clear".

Jun 13, 2019 10:38 AM #20
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

So true, Brian England - many memories are centered in our homes.

Jun 13, 2019 10:52 AM #21
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Carol Williams - "free and clear" - music to one's ears

Jun 13, 2019 10:53 AM #22
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

You paint a lovely picture of homeownership, Lottie. We own our home and it's the most glorious feeling. No mortgage and debt thanks to buying wisely through the years. 

Jun 15, 2019 07:20 AM #23
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

I'm preaching to the choir here, Debb Janes EcoBroker and Bernie Stea JD - most of us agree that owning our home has been a wise decision.

Jun 15, 2019 01:04 PM #24
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Oh my gosh, your home sounds so much like ours, Lottie - the family grew, we needed more space, purchased a larger home and the memories from both are blended together, etched in our minds forever.

As well, I'm with you - the emotional benefits come to mind first but, to financial freedom that yours being paid off brought you, is so very liberating. To me, that is the core of the definition of financial freedom!

Jun 16, 2019 07:44 AM #25
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Happy Sunday, Debe Maxwell, CRS - my home ownership story isn't at all unusual as many homeowners well know. I can't remember what the statistic is, something like net worth of homeowners is 37 times higher than that of renters. If one can stretch to buy that first home, no matter how small and simple, it usually makes great sense to do so.

Jun 16, 2019 08:26 AM #26
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I completely agree with you, Lottie! And, I live in the world of millennials due to our high-tech, affordable area being one that draws young adults right out of school. Our entry level homes are still affordable compared to renting. It's just them getting the message that saving for that downpayment is something they need to begin doing as they begin their careers. By the time they're seasoned enough in their jobs to obtain a mortgage, they should have a solid savings - at least started! I preach that all of the time to my sons' friends - it's a BIG deal in my mind!

Hey, happy Monday, Lottie!

Jun 17, 2019 07:27 AM #27
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Millenials in your area are fortunate in being able to purchase homes. It's getting harder and harder for younger buyers to do that in San Francisco and the Silicon Valley. They either need stock options from a start-up that goes public or, more typically, family assistance. No matter the difficulty, if they can take that first step to home ownership, it helps them immensely down the road.

Jun 17, 2019 08:43 AM #28
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Lottie Kendall - What a great analysis of home ownership.  It is all of the things you mentioned and even more when you look back at all those memories you make. Great read!

Jun 18, 2019 01:33 PM #29
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Thanks, Sheri Sperry - MCNE® - I'm enjoying reading a lot of these home ownership posts.

Jun 18, 2019 06:38 PM #30
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Kathy Schowe
California Lifestyle Realty - La Quinta, CA
La Quinta, California 760-333-8886

I love your quotes from homeowners... what special moments we get to share with our clients. We become part of their family when we sell them a home.  Kathy

Jun 18, 2019 09:54 PM #31
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Good morning, Kathy Schowe - helping people through the morass of buying or selling a home is very rewarding indeed.

Jun 19, 2019 06:43 AM #32
Rainmaker
1,977,599
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Lottie Kendall - Yes! Yes! Yes! a home is filled with emotional attachments that you can't deny. Moving on may be hard but it is often the healthiest thing an owner can do.

What a beautiful heart-warming story!

Jun 21, 2019 12:36 PM #33
Rainmaker
1,747,395
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

I agree, Patricia Feager, MBA, CRS, GRI,MRP - when one makes that sometimes difficult choice to move on, it allows room to create new memories.

Jun 21, 2019 02:03 PM #34
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