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Benefits of Homeownership

Thursday, June 16, 2022   /   by Margie Wright

Benefits of Homeownership

June is National Homeownership Month! Owning a home is a pretty big deal. For many, it's one of the biggest goals in life - and for good reason. A house becomes a home once you buy it and occupy the space. It's then yours to customize and make your own. It's an investment financially and emotionally. It's a place you can put your personal stamp on, a mark on the community and the world.

Emotional Benefits
Because it's a place that is yours and only yours, owning a home can give you a sense of pride and happiness. You own your own little corner of the world. That knowledge can lead to a very powerful, emotional connection to the home. Once the buying process has been completed and you can move in, the connection truly begins and brings the house to a home. You have the freedom to make updates as your needs and tastes change. The home grows with you.

Homeownership can also lead you to get even more involved with your local area and community. You choose a certain location because it's where you want to be, for opportunities, and to be part of that specific community life. Even if you aren't surrounded by immediate neighbors, you still have a community that you become part of. It gives you a sense of pride in your community when things are going well.

Financial Benefits
Homeownership is a great way to improve your long-term financial positions. You'll have a predictable monthly housing expense that can benefit your budget in the short-term. But you'll also gain equity as your home appreciates in value and you make your monthly mortgage payment. Growing equity is a great way to build your net worth as a homeowner. When comparing the net worth of a renter to a homeowner, the net worth of the homeowner is much higher.

Because of the growing wealth, you can come to feel more financially stable, especially since your financial position will improve in the long run. At first it may seem far away, but you'll eventually come to see the financial benefits to being a homeowner. You'll be able to build financial freedom while also finding greater satisfaction and happiness.

  homes, homeowners, homebuyers, buyers, first time buyer

Hurst Real Estate and Auction - Margie Wright Property Marketing Group
Margie Wright
221 East Main Street, Suite 103
Morristown, TN 37814

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