Home Ownership Isn’t Always About The Money

We’ve written before about many of the financial reasons that owning a home makes good sense (especially right now – with interest rates so low and rents so high). And you’ve probably seen many other headlines and articles explaining the monetary benefits that you gain when you buy a home, too.

But let’s set the money aside for a bit, and talk about the psychological aspect of being a homeowner. Because while saving money each month and building long-term equity in a property is certainly important for your future, there are few of us that get that “warm and fuzzy” feeling from our financial statements.

Ahhh…..but memories, that’s another story, isn’t it? Everyone has those – whether they’re happy or sad, they’re the things we cherish, or that spur us to achieve. In essence, they’ve made us what we are today – it’s just human nature. Those memories are formed by the people in our lives, things that have happened to us, and how we shaped our environment. And those three things are precisely what we’re referring to.

Relationships

There is a great sense of belonging to a community once you own a home. You feel more attached to the city and its people, and often even get involved with neighborhood and community events. When you’re a homeowner, you’ve put down roots – and you’ve done it in the midst of many other people with the same mindset. Your neighbors become your friends, sometimes even your family (or at least they seem that close). You form relationships that can last for years – even a lifetime. And as true as that is for adults, it’s even more important for children.

In a home of their own, kids have the security of knowing that “home” means just that. It belongs to them, and they don’t have to worry about suddenly having to change schools and reestablish their friends and lives at the whim of a landlord. They’re able to develop long-term friendships – indeed, they wouldn’t even need to think about them any differently. They get to know your neighbors, who will often watch out for their welfare, too. Studies also indicate better school performance and youth behaviors in children who live in a home of their own – in addition to greater self-esteem.

Research has long proven that people who have healthy relationships with others are happier and less stressed. Owning a home is one of the best ways to give yourself and your family the gift of building those friendships.

Freedom

One of the most overlooked reasons for owning a home is the freedom you get once you’ve achieved this major life goal. Many homebuyers discover that once they buy a home, other aspects of their personal life seem to just fall into place. It’s a huge accomplishment, and because of that, it gives people more confidence in themselves and allows them to pursue other goals in life.

On top of that, there are some incredible perks that come with the term “homeowner.” Just think about it: Your space is yours to do what you please. Indulge your passions with renovations (no reason you can’t have the greatest kitchen in the neighborhood!), paint, plant, and decorate to your heart’s desire. You can choose to make your home the gathering place for your friends and family by installing a pool and landscaping a back yard to die for – or put up holiday decorations that rival the White House display.

No more white walls and beige carpet (not to mention really ugly vinyl!). And no one but yourself to grant permission to enhance your environment (except maybe an HOA). This is your space. Make it beautiful, make it useful, make it playful – it’s all up to you.

Security

Owning a home is like a touchstone, it’s a way of anchoring your life to firm ground. It creates a solid base from which you can go forth in the world to accomplish many things, whether that includes raising a family or starting a business – or following a dream.

Other proven benefits of the positive impact of ownership is that it allows access to neighborhoods with better schools, and to better physical and social conditions. Single-family homes also tend to be maintained at a higher quality, have lower crime rates, and homeowners enjoy a heightened sense of personal accomplishment and social status. All of these elements together combine to lead to greater life satisfaction, resulting in better physical and psychological health.

Given these reasons alone, it’s no wonder that owning a home has always been “The American Dream.” When you combine them with the financial security home ownership offers, too – there’s no reason that dream needs to change, if you ask us.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly-built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!