Advantages of Homeownership...

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

Official Spring is right around the corner. Real Estate Spring is right now! According to photographers I've spoken with they see their requests for their  services increasing. This gives one hope that inventory will be increasing and THAT is Good News!

There is a steady stream of buyers but not always a steady stream of sellers. I believe the value of "land/property" ownership is intrinsically embedded in the human psyche, Below is 6 benefits of homeownership to keep in mind. 

6 Foundational Benefits of Homeownership Today

6 Foundational Benefits of Homeownership Today

Over the past year, our homes have become an integral part of our lives more than ever. They’re much more than the houses we live in. They’re our workplaces, virtual schools, and safe havens that provide shelter, stability, and protection through the evolving health crisis. Today, 65.8% of Americans are fortunate enough to call their homes their own.

As we continue to think about the future, our goals for the year, and what we want to achieve well beyond 2021, it’s a great time to look at the benefits of owning a home. Below are some highlights and quotes on the benefits of homeownership shared by the National Association of Realtors (NAR). From feel-good motivations to economic and social impacts on the local community, these items may give you reason to believe homeownership stretches well beyond your financial investment.

Non-Financial Benefits

Owning a home brings a sense of happiness, satisfaction, and pride.

  • Pride of Ownership: It feels good to have a place that’s truly your own, especially since you can customize it to your liking. “The personal satisfaction and sense of accomplishment achieved through homeownership can enhance psychological health, happiness and well-being for homeowners and those around them.”
  • Civic Participation: Homeownership creates stability, a sense of community, and increases civic engagement. It’s a way to add to the strength of your local area and drive value into your neighborhood.

Financial Benefits

Buying a home is also an investment in your financial future.

  • Net Worth: Homeownership builds your net worth. Today, the median household net worth of all homeowners is $254,900, while the median net worth of renters is only $6,270.
  • Financial Security: Equity, appreciation, and more predictable monthly housing expenses are huge financial benefits of owning a home. Homeownership is truly the best way to improve your long-term financial position.

Economic Benefits

Homeownership is even a local economic driver.

  • Housing-Related Spending: An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country’s economic activity over the past three decades.
  • Entrepreneurship: Homeownership is also a form of forced savings that can provide entrepreneurial opportunities. “Owning a home enables new entrepreneurs to obtain access to credit to start or expand a business and generate new jobs by using their home as collateral for small business loans.”

Bottom Line

The benefits of homeownership go well beyond the basics. Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact in your community. If owning a home is part of your dream this year, contact a local real estate professional to begin the homebuying process today.

 

Thank you to KCM for compiling this information

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

Comments (12)

Lauren Williams, CPO, CVPO
Casual Uncluttering LLC - Woodinville, WA
Professional Organizer: Puget Sound homes

Doug Dawes I miss the little, overlooked benefits - knowing I can paint the walls the colors I want, knowing the garden is really and truly mine, being able to systematize the elements that make the home comfortable like having a really good water-heating unit. I believe the psychological/physiological values are underestimated. Lauren

Feb 24, 2021 09:44 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

"Homeownership is truly a way to build financial freedom" Indeed!

Feb 25, 2021 03:41 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Doug Dawes - You did a great job taking a deep dive into home ownership! It's worth reviewing, re-evaluating, and recycling. 

Feb 25, 2021 04:24 AM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Lauren Williams, CPO, CVPO 

First, allow me to laud you with praises for the Zoom meeting you presented at.

Yesterday, I used the information you shared. You make good points about the overlooked benefits.

Feb 25, 2021 06:21 AM
Lauren Williams, CPO, CVPO

Doug Dawes You're very welcome for Tuesday's talk. I had huge fun. I miss the energy of in-person presentations. I think the size of Tuesday's audience, which caught me completely by surprise, had the same effect of energizing me, especially since it was just awesome to put so many voices to the faces I know. Lauren

Feb 25, 2021 04:24 PM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Down through the ages it has been well know that Real Estate ownership builds wealth

Feb 25, 2021 06:22 AM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Thank you Patricia Feager, MBA, CRS, GRI,MRP. the importance of Real Estate ownership should be ingrained in our youth.

On another note, I do pray you ok. 

Feb 25, 2021 06:24 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share. Smart consumers are anxious to take advantage of the very attractive mortgage interest rates.

Mar 08, 2021 03:58 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Doug, our market is on FIRE right now, and finally seeing more listings each week, which really helps the buyers.

Mar 12, 2021 06:40 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Doug, great post to remind those on the fence about a home purchase of all the benefits.

Mar 13, 2021 06:55 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Monday morning, Doug.

Take care, be safe and have a productive week.

Mar 15, 2021 04:31 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Doug. The non-financial mental benefits of home ownership are priceless. Enjoy your day.

Mar 16, 2021 05:30 AM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hello Roy,

They certainly do want the most advantageous rate they can muster

Mar 16, 2021 11:32 AM

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