Homeownership - The Many Benefits

Dated: June 4 2022

Views: 186

The Many Benefits of Homeownership

The Many Benefits of Homeownership | MyKCM

The past two years have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer. Here’s a look at a few of the non-financial and financial benefits of owning a home. If you’re looking to buy a home today, think about all the ways homeownership can impact your life.

Homeownership Has Impactful Personal and Emotional Benefits

Owning your home gives you a significant sense of pride because it’s a space that is truly yours. And as a homeowner, you can customize your home to your heart’s desire. Having a space you’ve put your stamp on enhances the pride and sense of ownership you may feel.

And that sense of ownership can extend beyond your shelter to help create social, community, and civic benefits as well. That’s because the average homeowner stays in their home for longer than just a few years. That means you’ll naturally feel a stronger connection to the community around you the longer you live there. This can help you experience a greater sense of belonging and a greater stake in your community as a whole. As the National Association of Realtors (NAR) says:

Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.”

Owning a Home Is a Significant Step Toward Financial Stability

In a financial sense, homeowners benefit from home price appreciationequity gains, and having a shield against some of the effects of inflation. These benefits can have a big impact on your life. As you gain equity through home price appreciation and paying down your mortgage, you build your net worth. And in times of inflation, your 30-year fixed-rate mortgage can help you stabilize one of your largest monthly expenses for the duration of your loan.

Lawrence Yun, Chief Economist for NAR, explains how you can start to see these lasting effects of homeownership as soon as you make your purchase:

Owning a home continues to be a proven method for building long-term wealth. . . . Home values generally grow over time, so homeowners begin the wealth-building process as soon as they make a down payment and move to pay down their mortgage.

Knowing you’ve made a good investment soon after your purchase is powerful. And that may give you confidence in your decision to buy a home.

What's it All Mean?

The benefits of owning a home are foundational. As a homeowner, you can feel proud of the space you call home and know you’ve made a sound financial investment. To learn how homeownership can help you, let’s connect to start the conversation today.

Colorado Springs Real Estate Lorian DuCharme, Senior Real Estate Specialist, Colorado Springs Realtor, EXIT Realty Pikes Peak. Specializing in guiding those 50+ in making their next real estate moves. Whether it’s upsizing, downsizing, or making big decisions about loved ones, I’m here for guidance. Baby Boomer Boss in Colorado Springs Real Estate. Focused on Colorado Springs, Manitou Springs, Old Colorado City, Falcon, Fountain, Widefield, Monument, Pueblo, El Paso County and the Front Range.  719-930-8622

Blog author image

Lorian DuCharme

Hi, my name is Lorian DuCharme. I live and work in Colorado Springs, Colorado. Colorado Springs has experienced tremendous growth and is rated one of the Most Desirable Cities to live in! In addit....

Latest Blog Posts

Things to do in Pueblo, KID FRIENDLY!

School is out! Let's make the most fun out of a great summer now that things have opened up compared to last year. With two kids under 3 years old myself, I try to get out in the community as much

Read More

5 Gifts To For Your Home's New Owners

Selling a home is an emotional event. You are leaving behind a house filled with memories and venturing off to someplace new. The people buying your home are excited to create their own memories in

Read More

Senior Housing Resources

Here are some resources for Senior Housing in Colorado:https://www.seniorhousingnet.com/seniors/senior-living-us/coloradohttps://www.seniorhousingnet.com/care-types/assisted-livinghttps://www

Read More

You Lost Out On a Home - How to Get Over It

You Lost Out On a Home - How to Get Over ItYou had such big dreams for the two of you. You were ready to make the big commitment. You thought you’d grow old together. But then your offer on

Read More