Have the benefits of owning a home changed?

By
Real Estate Agent with Coldwell Banker Realty DRE# 01411020

No matter how the housing market evolves, some of the personal benefits of owning a home never change.

Homeownership can provide a sense of attachment and connection that goes beyond just having a place to live - it is often viewed as a secure haven and source of stability. In recent years, this has only become more pronounced; many people feel an even deeper connection to their home in light of current events, not only in Irvine, but pretty much everywhere.
 

This sentiment is mirrored by the findings from the State of the American Homeowner report, which showed that 91% of homeowners feel secure, stable or successful owning a home. Furthermore, 64% said living through a pandemic had made their home even more important to them. This further highlights the emotional benefits associated with homeownership and how much it means to individuals and families alike. 

 

 

The National Association of Realtors also reiterates these findings in pointing out that homeownership not only brings financial rewards but also provides numerous social benefits. Not only can it help build up your net worth over time, but also creates an environment where families can thrive and where communities are connected by shared experiences. 

 

It's no secret that the mortgage market has been volatile over the past year. When rates spiked to over 7%, many prospective homebuyers were taken aback, sending them into a state of limbo as they waited for things to settle down. Now, however, there's some good news – mortgage rates are beginning to fall and this could be great news for those looking to buy a home.

 

At its core, homeownership has always meant something special for those who make the decision to buy – whether they are entering into the housing market for the first time or looking for something new. It gives individuals and families access to a space that is entirely theirs – one where they can create memories and make lasting connections with others in their neighborhood. But more than anything else, owning a home instills security and comfort - two invaluable human needs that remain regardless of market changes or shifting trends in real estate.

 

In short, when you invest in a property, like these Irvine homes for sale for example, you’re investing in much more than just bricks and mortar – you’re investing in yourself too. 

 

Homeownership comes with its fair share of ups-and-downs but at the end of the day there's nothing quite like having somewhere to call your own; somewhere safe from external uncertainties; somewhere you can be proud to call your own little corner on earth!

 

Comments (7)

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Great topic and points Debbie. People still have the American Dream, tax advantages, a place that you can own and not ask the landlord and in addition in today's world an opportunity to "work" from home with a home office area of the residence. Jeff 

Feb 14, 2023 01:57 PM
Debbie Sagorin

Thank you, Jeff!

Feb 14, 2023 02:34 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Debbie Sagorin owning your own home has been the American Dream for many years and will continue to be so for many more.

Feb 14, 2023 03:46 PM
Debbie Sagorin

I agree 100%, George!

Feb 16, 2023 11:36 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Debbie, GREAT post, as our homes are our castles, where we make new memories and eventually become financially free.

Feb 14, 2023 04:06 PM
Debbie Sagorin

Thanks Joan, and of course you’re right! 👍

Feb 16, 2023 11:39 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Feb 15, 2023 05:23 AM
Debbie Sagorin

Thank YOU, Joe!

Feb 16, 2023 11:40 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Feb 20, 2023 02:47 AM
Debbie Sagorin

Thanks, Richard.
You too.

Feb 20, 2023 12:14 PM