You've probably seen lots of financial arguments about why you should own your own home rather than rent. This includes budgeting (no rent increases) and the tax savings you'll most likely have. Now we're going to give you some reasons you probably haven't heard.
1) Freedom to pursue other goals in life once the major goal of home ownership is achieved Strange as it sounds, many of our first-time buyers have told us that once they bought the house, other things in their life started to fall into place. Not owning a home took so much of their mental energy that other goals were not worked on until that big goal was reached. So buy a home and get on with your life.
2) A greater sense of belonging to the community Once you own a home, you feel more attached to the community in which you live. You're more interested in what happens to the roads, schools, and shopping areas and other issues. Some people even become involved in local politics.
3) A commitment to something, a sense of stability Home ownership is an anchor. It is something that cannot be pulled out from under you. You'll never get a notice that you have to move. You're kids will never have to change schools. It gives you freedom to plan years ahead.
4) A sense of being in control It's your home. You can add to it, remodel it, change the landscaping, do whatever projects you want. It's something in your life you really can control. At work you don't always have control of what happens, but your home is your castle and you have dominion over it. You can see what you're building take shape before your eyes.
5) More control over the children than in an apartment complex In a neighborhood, kids usually play in their yards or go to friend's houses a few doors away. Our clients have told us that in an apartment complex they never knew where the kids were. They could be in any of hundreds of apartments, doing who knows what. In a home you get to know the neighbors and watch out for each other's kids.
6) Children do better in school and feel more secure This one surprised us, but homeowners say their kids calmed down in school after they bought a house. We don't know why, but it seems to work that way. There's a story of a single mom watching her son play in the yard, making steps in the slope and building things. She didn't have to tell him to leave everything alone, as she did at the apartment complex. I guess kids feel the same need for control we adults do.
7) Time and money saved by not going to the Laundromat A small point, but if you have kids, you know the value of this one. You gain a whole evening a week when you buy a house. The wash gets done in between other things, or while you're at work. What could you do with the extra evening you'll have? How about going out for dessert with your significant other with all those quarters?
If you have anything you can add to the list, please let us know via email. We would love to hear from you.
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