If you're looking to buy a home this season, keep going. Homebuyers encounter obstacles in any market, including today's. Perseverance pays off in the end if you decide to buy a home. According to a recent Bankrate survey, homeownership is so powerful:
“Nearly three-quarters of homeowners say they would buy their current property again.”
That is, the benefits of owning a property surpass the effort required to attain it. If you're a homebuyer, realize that the work you do today will pay you for years to come. Here are some reasons to keep going with your search.
Owning a home is important to your financial health.
The National Association of Realtors (NAR) suggests numerous reasons to consider buying a property. The equity you build is a major financial reason. NAR says:
“Rent is money lost, while mortgage payments allow you to develop equity... Home equity building is a ready-made savings plan.”
You can use your equity in several ways. With recent home price increases, homeowners now have historic levels of equity. That may be why so many individuals consider homeownership a fantastic investment and a sign of financial security. As shown by the Bankrate survey:
“Americans respect homeownership more than any other sign of economic stability...”
Owning a home outranks retirement, a good career, and a college diploma. That shows how significant the financial benefits of owning are.
The Emotional Benefits of Home Ownership
Of course, homeownership is a lifestyle. The NAR's top reasons to buy a home list include substantial non-financial benefits of homeownership. Among them is the chance to personalize your property to suit your tastes. Says:
“It's yours. You can personalize your home with renovations and new features that suit your lifestyle.”
Stability is another advantage homeowners have. Most homeowners outlive renters. According to NAR, staying put for a few years can help you connect with your neighborhood. That can boost your self-esteem and improve your relationships.
As NAR President Leslie Rouda Smith puts it:
“The value of homeownership is undeniable, from personal wealth and community development to social stability and economic growth.”
You will be rewarded if you succeed in buying a home in today's market.
If you plan to buy a property this year, you will reap enormous rewards. Let's connect to discuss the benefits of owning.