To Own Your Own Home
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 I'm going to give you some
reasons you probably haven't heard!
- Freedom to pursue other goals
in life once the major goal of home ownership is achieved
Strange as it sounds, many of
my first-time buyers have told me that once they bought
the house, other things in their life started to fall into
place. It's as if not owning 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!
- A greater sense of belonging
to the community
Once you own a home, you feel more attached to the city
in which you live. You're more
interested in what happens in town, to the roads, schools,
and shopping areas. Some people even become involved in
local politics, which you seldom see a renter do.
- A commitment to something,
a sense of stability
Home ownership is an anchor, 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.
- You can change things, a feeling
of being in control
It's your home. You can add to
it, remodel it, change the landscaping, do whatever projects
you want. You have a feeling of being in control of something
in your life. At work we don't always have control of what
happens, but your home is your castle that you have dominion
over. You can see what you're building take shape before
- More control over the children
than in an apartment complex
In a neighborhood, kids usually
play in the yards or go to friend's houses a few doors away.
My clients have told me 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
- Children do better in school
and feel more secure
This one surprised me, but buyers
have reported to me that their kids calmed down in school
after they bought a house. I don't know why, but it seems
to work that way. I remember 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, like she did at the apartment complex. I guess kids
feel the same need for control we adults do.
- 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 would you do
with the extra evening you'll have? How about going out
for dessert with your spouse with all those quarters?
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