The True Value of Homeownership

<article class="post-705405 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-705405"><span class="entry-date">June 1, 2023</span><div class="entry-header center-block text-center"><h1 class="entry-title">The True Value of Homeownership</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=The+True+Value+of+Homeownership&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-true-value-of-homeownership%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="The True Value of Homeownership Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20230601-the-true-value-of-homeownership.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides. </p>
<p>Of course, there are <a href="https://www.simplifyingthemarket.com/2023/05/15/homeowners-have-incredible-equity-to-leverage-right-now/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">financial reasons</a> to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where you live.</p>
<p>Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride.<strong> </strong></p>
<h4><strong>You May Feel Happier and More Fulfilled </strong></h4>
<p>Owning a home is associated with better mental health and well-being. Gary Acosta, CEO and Co-Founder at the <em>National Association of Hispanic Real Estate Professionals</em> (NAHREP), <a href="https://www.housingwire.com/articles/opinion-why-we-all-have-a-stake-in-closing-the-homeownership-gap/" rel="noopener noreferrer" style="color: blue;" target="_blank">explains</a>:</p>
<blockquote><p><em>“Studies have shown the emotional and psychological benefits that homeownership has on a person’s health and self-esteem . . .”</em></p></blockquote>
<p>Similarly, <em>Habitat for Humanity</em> <a href="https://www.habitat.org/our-work/impact/research-series-how-does-homeownership-contribute-to-social-and-civic-engagement" rel="noopener noreferrer" style="color: blue;" target="_blank">says</a>:</p>
<blockquote><p><em>“Residential stability among homeowners is related to improved life satisfaction, . . . </em><strong><em>along with better physical and mental health</em></strong><em>.”</em></p></blockquote>
<p>So, according to the experts, owning a home can improve your psychological wellness by making you feel happier and more accomplished.</p>
<h4><strong>You Can Engage in Your Neighborhood and Grow Your Sense of Community</strong></h4>
<p>Your home connects you to your community. Homeowners tend to stay in their homes longer than <a href="https://www.simplifyingthemarket.com/2023/05/01/why-buying-a-home-makes-more-sense-than-renting-today/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">renters</a>, and that can help you feel more connected to your community because you have more time to build meaningful relationships. And, as Acosta <a href="https://www.housingwire.com/articles/opinion-why-we-all-have-a-stake-in-closing-the-homeownership-gap/" rel="noopener noreferrer" style="color: blue;" target="_blank">says</a>, when people stay in the same area for a longer period of time, it can lead to them being more involved:</p>
<blockquote><p><em>“Homeowners also tend to be more active in their local communities . . .”</em></p></blockquote>
<p>After all, it makes sense that someone would want to help improve the area they’re going to be living in for a while.</p>
<h4><strong>You Can Customize and Improve Your Living Space</strong></h4>
<p>Your home is a place that’s all yours. When you own it, unless there are specific homeowner’s association requirements, you’re free to customize it however you see fit. Whether that’s small home improvements or full-on renovations, your house can be exactly what you want and need it to be. As your tastes and lifestyle change, so can your home. As <em>Investopedia</em> <a href="https://www.investopedia.com/articles/mortgages-real-estate/08/home-ownership.asp" rel="noopener noreferrer" style="color: blue;" target="_blank">tells</a> us:</p>
<blockquote><p><em>“One often-cited benefit of homeownership is the knowledge that you own your little corner of the world. </em><strong><em>You can customize your house, remodel, paint, and decorate without the need to get permission from a landlord.</em></strong><em>”</em></p></blockquote>
<p>Renting can limit your ability to personalize your living space, and even if you do make changes, you may have to undo them before your lease ends. The ability homeownership gives you to customize and improve where you live creates a greater sense of ownership, pride, and connection with your home.</p>
<h3>Bottom Line</h3>
<p>Owning your home can change your life in a way that gives you greater satisfaction and happiness. Connect with a local real estate professional today if you’re ready to <a href="https://www.simplifyingthemarket.com/2023/05/22/why-buyers-need-an-expert-agent-by-their-side/" rel="noopener noreferrer" style="color: blue;" target="_blank">explore</a> homeownership and all it has to offer.</p>
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