We are real estate agents and are, of course, heavily dedicated to the idea that home ownership is important. But don’t just take our word for it! Here are several solid reasons that owning a home is a great idea.
According to a recent survey done by the National Association of Realtors® (sent to 1,880 homeowners and 1,115 renters), homeowners are more:
- Satisfied with their quality of life
- Satisfied with family-oriented environment
- Likely to read or listen to local news
- Likely to vote in local elections
- Apt to volunteer time to nonprofit or charitable organizations
- Have much higher net worth (“Even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000 – a 24% increase – while sellers who were in their homes for 11 to 15 years saw a median gain of 40%.” source: NAR)
- Are happy with their decision to own a home
- Are what renters aspire to be (“The majority of renters (63%) say they are at least somewhat likely to purchase a home at some point in the future.” source: NAR)
- Don’t have to worry about their rent increasing
- Are happier and healthier and enjoy a greater feeling of control over their lives
- Contribute to a healthy economy — with every home purchase, $60,000 is pumped into the economy, plus, housing accounts for more than 15% of our national Gross Domestic Product
If you are sitting on the fence, wondering if you should purchase a home, of course there are many factors to consider (i.e. down payment, affordability month-to-month, whether or not you are staying in the area for a long period of time), but don’t let home ownership scare you! If you are ready, willing, and able to buy, we will be happy to walk you through the process.