More Than a House: The Emotional Benefits of Homeownership

With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. Thats only natural as you think about the dollars and cents of it all.

And while you ultimately need to be able to afford a home you buy, dont lose sight of why homeownership was so important to you in the first place. Thats because buying a home is so much more than just a financial transaction. As the National Association of Realtors (NAR) says:

The benefits of purchasing and owning your place of residence are both financial and emotional pride in homeownership and the feeling of security are huge intangible benefits.

Heres a look at just a few of those more emotional or lifestyle perks, to help anchor you to why homeownership is one of your goals.

A Sense of Satisfaction

Owning a home is often associated with better mental health and well-being. Thats probably because buying a home is a big milestone. And the sense of satisfaction and pride that comes with achieving that goal just feels good. A recent article from the Mortgage Reports says:

By and large, homeownership brings more satisfaction than renting. . . Surveyees scored the overall happiness level of homeowners at 88% compared to 67% for renters.

More Stability for Your Family

Another thing that may make homeowners feel more satisfied is that theyre finally able to put down roots. Think about it. If youre used to moving each time your lease renews and your rent climbs, staying put for a while would be nice not just for you, but for any loved ones that live with you.

A home can provide more predictability and the chance to make long-term friends. That should reduce everyones stress too. As NAR explains:

Families also benefit from homeownership, with studies proving that parents are able to spend less time in a stressed state, therefore spending more time with their children. The ability for parents to feel stable has a huge impact on childrens behavioral issues, educational success, and future economic success.

A Stronger Feeling of Community

And if youre also looking for a sense of belonging for yourself, homeownership can help with that too. As FinHabits says:

Homeowners tend to be more involved in their local communities, leading to a stronger sense of belonging . . .

It makes sense. Your home connects you to your neighborhood and, by extension, your broader community. Thats because owning a home gives you a stake in that communitys future. So, becoming more involved and wanting to do what you can to help improve the area while making long-term relationships with neighbors is only natural.

The Ability To Make the Space Your Own

And dont forget, your home is a place thats all yours. Unless youve got specific homeowners association requirements, youre free to customize it however you see fit.

So, if renting has been cramping your style, its time to express yourself and jump on the latest trends (if you want to). Whether thats small home improvements or full-on renovations, your house can be exactly what you want and need it to be. And as your tastes and lifestyle change, so can your home. Picture coming home each day to a place that feels like you. Thats a feeling like no other. 

Bottom Line

If you want to enjoy a sense of accomplishment and pride in where youre living, connect with a real estate agent to go over what you need to do now to make this future happen for you.

Venessa James - Broker Associate    

ABR, ALHS, CHMS, MCNE, LUXE, SFR, SRS  

Platinum Experience Group - KW Professionals 

(281) 889-8292 platinumexperiencegroup.com

Integrity, Experience, Results