Friday is here, and glad you're here with us today !
If you're a Generation X or from a time even before that, you might remember your parents saying that owning a home is the pinnacle of success in life, and over time, that thought was ingrained in your head. What made them say that? Why does it still hold true today (for a majority of folks)? With all of the chatter surrounding home prices, mortgages, and the housing market, what are the real mental, emotional, and lifestyle benefits of owning a home?
It's all about the "Roots"
Carla Hill writes about these roots in her story, "The Joys of Homeownership", on the RealtyTimes.com website. Hill says that you put down roots by becoming part of a neighborhood and community (as opposed to renters, who "come and go as quickly as leases renew"). These roots can potentially develop lifelong relationships, and Hill says that during your time in the home, the home "will see you through many of life's important milestones".
The image of a young couple buying a home and building a nest, with a plan on starting a family, will make these homes become "the container of countless memories", as Hill says. The "realm of homeownership", as she says is not limited to just young families seeking homeownership. It also encompasses growing families needing more space or retiring adults "seeking out warmer climates or smaller, more manageable homes".
Roots can also pertain to planting trees and shrubs. Hill explains that While Renters are rarely afforded the luxury of gardening, as a homeowner you are able to "create your own green oasis".
The pride factor, as Hill says, is that this little piece of property and land is yours, and no one can take that away from you. This security allows people to form deep attachments and spurs many owners to make improvements and additions, which makes it more comfortable and usable (and "improves neighborhood values and overall curb appeal.").
So, people may initially be motivated by a major life change, such as a new job or a new family, says Hill, ultimately, people buy based on emotion. They want a home they can fill with memories of Christmas mornings, summer vacations, and other happy moments. Hill tells us to, "Remember this sentimental side of homeownership" the next time we read about stocks, bonds, and housing woes.
Do you own a home? What is your happiest memory of owning a home? If you do not own a home, does the prospect of owning one sound exciting?
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Have a Great Week, and Happy Rent-to-Owning !
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TAGS: #buyingahome #Homeownership #pride #stocks #bonds #housing