The Emotional Benefits of Homeownership
Are you considering becoming a homeowner? Congratulations! This is one of the biggest financial decisions you can make. You will experience many benefits, including stable housing costs, and building equity, but one thing you may not have considered is the varied emotional benefits of homeownership. Let's outline the emotional benefits that becoming a homeowner holds.
Increased Financial Stability
Mortgages unlike rent are most commonly fixed; in other words your monthly payment will remain unchanged unlike rent which year after year continues to rise as shown in the chart below. Rental prices have been skyrocketing for years. Buying a home with a fixed-rate mortgage gives you the opportunity to stabilize your monthly housing costs.
Privacy, Please
Having your own space is very powerful. Whether you work from home or have children, it may often feel like you do not have privacy, it is in fact your own space to do whatever you want! If you are a first-time home buyer, this may also mean no roommates or no family! Tranquility can be yours and privacy.
Community
Conversely, if you are moving into a new neighborhood with or without shared amenities, you stand to make new friends. So many of our families moving to The Triangle will find that neighbors are very welcoming and between associations and neighborhood parties, you share an interest in your homes.
Personal Comforts
Fireplaces, kitchen islands, breakfast nooks, walk in closets, do any of these sound just like a dream? When you have your own home, making these investments in personal comfort can be yours. Additionally, these types of upgrades to homes frequently yield increased home values.
Taking Care of Loved Ones
If you have a nuclear family or extended family and are buying a home, you experience the satisfaction of being able to provide a crucial need for loved ones. Housing is one of the critical needs to feel safe and protected.
Express Yourself
When you are striking out on your own and purchasing a home, you get to decorate it as you wish. No more roommates, no more parents, this applies mainly to first time homebuyers and millennials entering the housing market, or others who would simply like to have their space precisely the way they like it. We do recommend that if you are looking to invest in a home and sell it within five years that you be careful on the personalization for resale.
Pride and Accomplishment
This is a big step and you should be very proud of the fact that you will soon become a homeowner. Saving for your down payment, months of scouring listings with an agent to find the right home, and obtaining financing, all should be a source of pride when you finally close on your new home.
Are you ready to feel accomplished, feel in perfect comfort, enjoy privacy, experience community, and customize your home to your personality? Let’s talk! We represent buyers throughout The Research Triangle This is one of the biggest markets to watch in 2023. We are here to help. Contact My NC Homes today.
Posted by Larry Tollen on
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