Stuck in a rental cycle and can’t get out? Not sure if you want to make the jump and take on a mortgage? There are many factors to consider when it comes to renting vs. buying. But if you’re on the fence about buying a home, it may help to start by considering the value of homeownership. Here’s why you should consider becoming a homeowner.
Homeownership: a worthwhile investment
Regardless of the housing market, a house is generally an appreciating investment. This means that, as the home is lived in and loved on, it should increase in value over time. While there are, of course, exceptions and shifts in the market, a home is still one of the best investments you can make. Because when you buy a home, you’re not just investing in the potential to re-sell for profit. You’re also investing in a place you can call your own, somewhere that you can make memories and perhaps even pass on to one of your children.
Seeking independence? Become a homeowner.
One of the most rewarding benefits of becoming a homeowner is freedom. As a homeowner, you get to say goodbye to the uncertainty, rules, and regulations of rental life! You don’t have to worry about someone raising the rent on you or taking forever to fix the fence. Not having a landlord looking over your shoulder is one of the most freeing benefits of becoming a homeowner.
The old saying, “A man’s house is his castle” rings true, too. As a homeowner, you can enjoy your home however you please! You don’t have to ask if your dog is welcome or worry about pet fees. You can paint the walls, plant a garden, or completely gut that awful 80’s kitchen. You can use nails instead of command hooks or rent your spare bedroom out and use the money to pay for your mortgage—because when you’re a homeowner, you get to call the shots.
The pride of home ownership
Some may argue that owning a home means more responsibility, when in fact many homeowners are proud of the control they have over their own living space. In fact, homeowners probably take better care of their home than they would if they were renting, because they are caring for something that belongs to them. Homeownership is like finally belonging somewhere. There is no satisfaction like walking through the door at the end of a long day, setting down your keys, and knowing that the haven you are in is not just yours to care for but yours to enjoy.