Don't Overlook the Personal Benefits of Homeownership
MORRIS PLAINS, N.J. – When you think about owning a home what comes to mind? Having a place to spend time with your family? Pride in ownership? The freedom to make home improvements as you deem necessary? Sure owning a home has a financial impact, more often than not a positive one, but what often seems to be overlooked are the personal advantages homeownership provides.
Owning a home offers the freedom to live the lifestyle you desire. Suppose your daughter asked for a puppy for her birthday or you son wants to put a basketball hoop in the driveway. Perhaps you would like to host a party for family and friends. When you rent, these simple choices become a decision for your landlord, not your family. Being a homeowner offers you the peace of mind to know that you can use your home the way you want without having to check with someone first.
As a homeowner, all the decisions regarding your house are under your control. If you decide you don’t like the kitchen counter tops or feel the bathroom tile needs to be updated you can do something about it Can’t take looking at the same color walls in your living room anymore? As a homeowner, the choice to travel to a hardware store and pick out a new can of paint is yours. You aren’t subject to the approval of a landlord who may decide the change you seek isn’t necessary.
Homeownership also provides a strong sense of community that is hard to replicate when renting. A recent report compiled by the National Association of REALTORS® shows that homeowners move far less frequently than renters and as a result are engrained in a community longer. This allows homeowners to become more involved with local groups and activities to develop strong ties with neighbors and the community.
Establishing strong community ties is particularly important for children’s educational prospects. The same report shows that frequently moving and therefore changing schools has an adverse effect on a child’s educational outcome. If you rent, you’re more likely to move frequently. Each time you move your family will have to become accustomed to a new community and your children will have to establish new friendships and social circles, a stressful ordeal at any age.
During the recent housing boom, the personal advantages of owning a home seemed to get lost as attention shifted to the profits homeowners were seeing as prices soared. However, any financial gains associated with homeownership should really be viewed as icing on the cake. Owning a home is first and foremost about having a place of comfort, a place to make memories and a place to call your own. This fundamental principle is the basic foundation of the American Dream and should never be overlooked.
Weichert has nearly 18,000 sales associates in approximately 500 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, Weichert's customer service center can be reached at 1-800-USA-SOLD or at Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.