With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. But is is also very emotional. And while you ultimately need to be able to afford the home you buy, don’t lose sight of why homeownership was important to you in the first place.
Buying a home is so much more than just a financial transaction. It’s turning a house into a home. Your refuge. Your pride in homeownership and the feeling of security are huge intangible benefits to your purchase.
If homeownership is one of your goals, we want to help. We have more than 30 years experience helping home buyers in the Tampa Bay area. We know the neighborhoods. The schools. The parks. The businesses. We want to help make this community yours.
Here are a few sometimes overlooked benefits of homeownership:
A sense of satisfaction
Data shows that owning a home is often associated with better mental health and well-being. That sense of satisfaction and pride that comes with achieving that long-time goal just feels good. And the control you have over personalizing your living space according to your preferences is powerful. This sense of control cultivates a positive emotional attachment to your home, which ultimately enhances your comfort, contentment and overall mental well-being.
More stability
It’s finally your time to make a place your own and put down roots. No asking a landlord if you can paint or replace cabinet doorknobs. No worrying about increased rent or finding a new place. Owning a home can provide more predictability and the chance to make long-term friends too.
Feeling of community
Most homeowners take pride in their property and feel a part of something bigger – a neighborhood, a town or even a street. Having a sense of belonging and pride as you plant new flowers or cut the lawn also gives you a chance to get to know your neighbors. You could host holiday gatherings, game nights, barbecues and much more in the comfort of your home. This not only strengthens existing relationships but also makes it easier to form new connections. And your home and neighbors connect you to your community. It gives you a stake in that community’s future so making long-term relationships with neighbors is only natural.
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Make it your own
Maybe the thing we enjoy most about homeownership is that it is all ours. You’re free to customize it however you see fit. So if renting has been cramping your style, it’s time to express yourself and jump into the latest DIY projects. You get creative authority for wall color, flooring, decorating, etc. Picture coming home each day to a place you created. That feels like you. That feeling of home.
Financial gains
We said it was emotional but homeownership can also help you build wealth. A 2022 study found that homeowners had a median net worth of $396,000, while renters had the median net worth of just $10,400. So while enjoying your slice of paradise you are also building wealth and a more stable financial future.
Lisa Carroll, Team TLC - Mihara & Associates
813-205-7337
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