Americans Find the Nonfinancial Benefits of Homeownership Most Valuable

<article class="post-2126 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-2126"><span class="entry-date">May 3, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">Americans Find the Nonfinancial Benefits of Homeownership Most Valuable</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Americans+Find+the+Nonfinancial+Benefits+of+Homeownership+Most+Valuable&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Famericans-find-the-nonfinancial-benefits-of-homeownership-most-valuable%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="Americans Find the Nonfinancial Benefits of Homeownership Most Valuable | Simplifying The Market" class="webfeedsFeaturedVisual wp-post-image" decoding="async" link_thumbnail="" loading="lazy" sizes="auto, (max-width: 549px) 100vw, 549px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2021/04/30111130/20210503-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2021/04/30111130/20210503-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2021/04/30111130/20210503-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>Homeownership is a foundational part of the <a href="https://www.simplifyingthemarket.com/2021/03/31/is-homeownership-still-considered-part-of-the-american-dream/?a=712984-fa409495d5d70154d03a25e81e9540e2">American Dream</a>. As we look back on more than a year of sheltering in our homes, having a place of our own is more important than ever. While <a href="https://www.simplifyingthemarket.com/2021/04/08/homeownership-is-full-of-financial-benefits/?a=712984-fa409495d5d70154d03a25e81e9540e2">financial benefits</a> are always a key aspect of homeownership, today, homeowners rank the nonfinancial and personal benefits with even higher value.<span id="more-44306"></span></p>
<p>Recently, two national surveys revealed the reasons homeownership is such an important part of life. The top three personal benefits of homeownership noted by respondents in <em>Unison’s</em> 2021 report on <a href="https://contentimages.o-prod.unison.com/images/press/2021-Unison-SOTAH-Report.pdf">The State of the American Homeowner</a> are:</p>
<ul>
<li>91% – feel secure, stable, or successful owning a home</li>
<li>70% – feel emotionally attached to the homes that have kept them safe over the past year</li>
<li>51% – call homeownership a “key part of their life”</li>
</ul>
<p>These sentiments were supported by the most recent <a href="https://www.fanniemae.com/media/38891/display">National Housing Survey</a> from <em>Fannie Mae</em>, which also shows that the top three reasons Americans value homeownership have nothing to do with money. Those surveyed were given a list of feelings and accomplishments that are associated with or impacted by where we live. They were then asked, “<em>To achieve this, are you better off owning or better off renting?</em>” Here are the top three points from the list that respondents said homeownership could help them achieve:</p>
<ul>
<li>91% – control over what you do with your living space</li>
<li>90% – a sense of privacy and security</li>
<li>89% – a good place for your family to raise your children</li>
</ul>
<p>Other nonfinancial advantages of homeownership revealed by the survey include feeling engaged in a community, having flexibility in future decisions, and experiencing less stress.</p>
<h3><strong>Bottom Line</strong></h3>
<p>Financial and nonfinancial benefits are a key component to the value of homeownership, but the nonfinancial side is most valued after a year full of pandemic-driven challenges. Let’s connect today if you’re ready to take the first steps toward becoming a homeowner.</p>
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