3 Reasons You Should Own a Home

By: Trong Dang

3 Reasons You Should Own a Home

Tags: Trong Dang - TD Home Team, Inc.

Nowadays, we all know that buying a home can become a bit overwhelming, not to mention pricey, and when you’re a first time home buyer we tend to ask ourselves, “is this a right thing to do?” Relax, it's okay to have doubts. The more you know, the less scary the process can be. To get you started, here’s are our "3 Reasons You Should Own a Home”.

#1 – Appreciation and Pride of Ownership:
Pride of ownership is the number one reason why most people desire to own their own home. It means we have the rights to do just about whatever we want with it! With respect to your HOA guidelines, of course.  
Having an appreciation for what you’ve accomplished, what you’ve gone through and the respect you show your hard-earned new property is the most compelling feeling and can only be felt by owning a home, not by renting one.
No more worrying about crazy landlords or rent increases, you’ll be able to live in your home for as long as you like, and have a fixed payment each month!

#2 – (Not Just) Financially Stability:
Once you own a home, you may start to notice a funny feeling... it’s called stability! A home purchase can encourage both financially and emotionally stability. We all know that owning a home can provide the sense of consistency for the homeowners, especially if you intend to start a new a family.

Everyone gets to the point where they want stability in their lives. Owning your own home gives you a set neighborhood, schools and community that you can call your own.

A Worthy Note: A portion of your payment each month will go to the principal of the loan. This shouldn’t be considered a cost but a savings plan. You’re just paying yourself by building equity. This will be extremely useful when you’re ready to retire.
Remember: Not everyone can afford buying a house, you should be proud of yourself. 

#3 – Investment:
How is owning your own home a good investment? Let us tell you! As long as the market is stable, owning a home is a great long-term investment. 

Home prices in the U.S have risen 3 percent to 6 percent a year for the past 20 years, and that trend is likely to continue. When buying a home, you’re putting your capital in a safe long term investment where it’s likely to grow.

Many people view their home investment as a hedge against inflation. Inflation causes prices to double every 25 years or so. Meaning by year 25 of a mortgage, your living costs are basically 50% off!

Keep in mind that the housing market can be unpredictable, so there is no guarantee that your house will greatly increase in value, though usually, that is the case.

For most of us, owning a home is part of the overall strategy to begin building a wealth. Providing a lasting stability for our family and ourselves is the ultimate goal.

Suze Orman, a Motivational speaker and an American author, once said, “Owning a home is a keystone of wealth -- both financial affluence and emotional security.”

Bottomline - having a home is everyone's dream. Owning your own home should become your reality.