• Skip to main navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer

Realty Solutions Group

Service Beyond Expectations

SearchClose

6 Foundational Benefits of Homeownership Today

Over the past year, our homes have become an integral part of our lives more than ever. They’re much more than the houses we live in. They’re our workplaces, virtual schools, and safe havens that provide shelter, stability, and protection through the evolving health crisis. Today, 65.8% of Americans are fortunate enough to call their homes their own.

As we continue to think about the future, our goals for the year, and what we want to achieve well beyond 2021, it’s a great time to look at the benefits of owning a home. Below are some highlights and quotes on the benefits of homeownership shared by the National Association of Realtors (NAR). From feel-good motivations to economic and social impacts on the local community, these items may give you reason to believe homeownership stretches well beyond your financial investment.

Non-Financial Benefits

Owning a home brings a sense of happiness, satisfaction, and pride.

  • Pride of Ownership: It feels good to have a place that’s truly your own, especially since you can customize it to your liking. “The personal satisfaction and sense of accomplishment achieved through homeownership can enhance psychological health, happiness and well-being for homeowners and those around them.”
  • Civic Participation: Homeownership creates stability, a sense of community, and increases civic engagement. It’s a way to add to the strength of your local area and drive value into your neighborhood.

Financial Benefits

Buying a home is also an investment in your financial future.

  • Net Worth: Homeownership builds your net worth. Today, the median household net worth of all homeowners is $254,900, while the median net worth of renters is only $6,270.
  • Financial Security: Equity, appreciation, and more predictable monthly housing expenses are huge financial benefits of owning a home. Homeownership is truly the best way to improve your long-term financial position.

Economic Benefits

Homeownership is even a local economic driver.

  • Housing-Related Spending: An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country’s economic activity over the past three decades.
  • Entrepreneurship: Homeownership is also a form of forced savings that can provide entrepreneurial opportunities. “Owning a home enables new entrepreneurs to obtain access to credit to start or expand a business and generate new jobs by using their home as collateral for small business loans.”

Bottom Line

The benefits of homeownership go well beyond the basics. Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact in your community. If owning a home is part of your dream this year, let’s connect so you can begin the homebuying process today.

Content previously posted on Keeping Current Matters

Posted in: First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

Post navigation

« Thinking about Building a New Home? Your Agent Is Critical. [INFOGRAPHIC]
3 Reasons We’re Definitely Not in a Housing Bubble »
Search for:

Recent Posts

  • It’s a Sellers’ Market [INFOGRAPHIC] February 26, 2021
  • Are There Going to Be More Homes to Buy This Year? February 25, 2021
  • How Much Leverage Do Today’s House Sellers Have? February 24, 2021
  • The Reason Mortgage Rates Are Projected to Increase and What It Means for You February 23, 2021
  • Where Have All the Houses Gone? February 22, 2021

Recent Comments

    Archives

    • February 2021
    • January 2021
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • February 2016
    • 0

    Categories

    • Buying Myths
    • Demographics
    • Distressed Properties
    • Down Payments
    • First Time Home Buyers
    • For Buyers
    • For Sellers
    • Foreclosures
    • FSBOs
    • Holidays
    • Housing Market Updates
    • Infographics
    • Interest Rates
    • Luxury Market
    • Millennials
    • Move-Up Buyers
    • New Construction
    • Pricing
    • Rent vs. Buy
    • Selling Myths
    • Short Sales
    • Time-sensitive
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Search for:

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org