Some call it the “American Dream”—owning your own home.
In fact, 88% of Americans say they would prefer to own their own place rather than renting a house or apartment. Why? Well, there is quite a lot to love about having your own place.
Homeownership offers these benefits:
- Your own place. Obviously. But this means so much: Decorate it how you like. Change it. Customize it. Paint it. Enlarge it. When you rent a residence, you rarely have the opportunity to make it your “own place.”
- Privacy. In most cases, a house doesn’t have noisy neighbors. There’s no one above or below you playing their music or working out at 3 AM. You can enjoy the peace and quiet of a house that is separated from other people.
- Community. When you set down roots, you become a part of the neighborhood and the area you live in. You have the opportunity to make new friends who become long-term friends. If you have children, you inevitably grow further into the fabric of your community. It’s great to belong!
- Lower housing costs. Rents have been rising in recent years, outpacing mortgage payments. If you have a fixed rate mortgage, your monthly payment will remain the same for the life of the loan (excluding taxes and insurance). Rental rates are guaranteed to rise year after year.
- Investment. For many people, their home represents their biggest asset. A regular monthly payment is a simple, easy and automatic way to invest your money. You are adding to your savings, while at the same time most real estate is appreciating in value.
- Much more. Every homeowner has a personal set of needs and desires for their house. The benefits are wide, varied and rewarding.
Ready to find your perfect house that you can fall in love with?