Yesterday,we discussedthe reasons why homeownership makes sense, financially. Today we wanted to touch on the emotional or ‘real’ reasons that many Americans strive to become homeowners.
The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feelare most important in regards to homeownership.
The top 4 reasons to own a home cited by respondents were not financial.
1. It means having a good place to raise children & provide them with a good education
From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase.
2. You have a physical structure where you & your family feel safe
It is no surprise that having a place to call home with all that means in comfort and security is the #2 reason.
3. It allows you to have more space for your family
Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list.
4. It gives you control over what you do with your living space, like renovations and updates
Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?
The 5th reason on the list, is the #1 financial reason to buy a home as seen by respondents:
5. Owning a home is a good way to build up wealth that can be passed along to my family
Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future?
Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in their life, now is a great time to reflect on the intangible factors that make a house a home.
Author:Tim Walsh Phone: 703-447-2236 Dated: March 7th 2016 Views: 200 About Tim: I work full time in Real Estate. We created Your New Home Team to focus our energies in creating smo...
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NorthernVAHomesForSale.net We are a new and growing team of professionals with one goal in mind - to be the #1 trusted advisor(s), confidant(s) when it comes to buying, selling, building or investing in Northern VA for our clients and community. Our unique backgrounds, dedication, experience and commitment pours into everything we do. We believe in integrity and wrap our values and approach around betterment of our clients and community - every day.
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"Dale, Thanks so much for helping us buy our new home. Compared to our previous experience buying and selling homes, we found out firsthand what an experienced agent like you can do. You helped find the right home for us, and more importantly, negotiated an amazing deal. A home is our and often people’s largest asset. We are so fortunate that you were there every step of the process to protect our interests. We are not surprised that you are one of the most successful agents out there and we will definitely recommend you to our friends and colleagues. If anyone is in the process of getting in the market we will be glad to provide your reference and the highest recommendation."