While there are certainly many financial benefits to owning a house, one thing that should also be considered when embarking on your home search is the emotional aspects of homeownership. This has been particularly true as we continue to live in a time where our needs are changing and who we are and what we value most is evolving. Because of this, homeownership has taken on a new meaning for many of us.
Today, we’re taking a look at what truly makes a house a home and some of the important non-financial benefits of owning a home.
Why Owning a Home Means So Much More Than A Financial Investment
It’s true that purchasing a home is one of the best financial investments you can make to grow your net worth. However, beyond the finances, you’ll find that owning a home provides you with feelings of security, pride, and comfort. Here are some of the reasons why owning a home means so much to us:
It’s a huge accomplishment! - Achieving the dream of owning a home is something that should be celebrated! If you’re a first-time homeowner, you should absolutely take pride in achieving such a major milestone in life. If you’re a tenth-time homeowner, you should celebrate the change and congratulate yourself on making it to that closing table. In all cases, getting handed those keys is a moment that should be cherished.
There’s no place like home - This holds to be particularly true over the past couple of years. Your home should be your safe haven, your oasis, your personal getaway where you can relax and unwind. With all of the uncertainly and stress that we come across on a daily basis, your home is a place where you can recharge and feel at ease.
You can make your space work for your specific needs - Life is all about change, and it’s important to have a space that can adapt. Your home works for you, so if that means converting an extra bedroom into an office or a personal gym, go for it! If you want to create in creating an outdoor paradise for entertaining, have at it! Your home is yours to invest in and to form into a space that works for your continuously evolving needs.
You can update your home to match your unique style - The sky is the limit when it comes to designing your home to match your own unique style. You have the freedom to paint the walls any color you’d like, upgrade your kitchen with those cabinets you’ve always wanted, and renovate the bathroom into the spa of your dreams. You have the freedom to make your home truly yours.
Home is Not Just Where The Heart Is
Our home has become much more than a place to rest our heads at night. During the pandemic, the home has evolved to be so much more..it’s become our office, our school, our gym, and our vacation spot. As the world around us changed, so did our needs for our home. Many took the time to make those renovations and turn their homes into their new office or weekend getaway because it became our safe place that protected us all on a new level.
According to the 2021 Sate of the Ameircan Homeowner report by Unison, pre-pandemic just 58% of homeowners felt emotionally attached to their home. Now, 70% of homeowners feel that emotional connection. Additionally, JD Esajian, President of CT HOMES, LLC, stated that most individuals fail to realize that homeownership can benefit your mental health and the community around you.
As we continue to live in a time of uncertainty, owning a home can provide you with the security and stability that is so beneficial in a time like this. Unison reported that 83% of homeowners say that their home has kept them safe during the COVID-19 pandemic. A home is more than four walls and a roof, it’s a place where your family can be protected, can come together, and can escape the outside world for a while. It can become everything that you need it to be for the time that you are living in.
Homeownership is so much more than a financial investment. As the past few years have taught us, it can become our safe haven from the stress and uncertainty of the outside world. It can become your personal oasis that can evolve to meet the changing needs of the world we live in today. Here at Chinatti, this is why we do what we do. We want you to achieve that dream of homeownership so that you can enjoy these benefits and have a space that you and your family thrive in day in and day out. If we can help you in any sort of way achieve that, whether it’s to start the home search entirely or to recommend vendors to help turn your house into the home that you need it to be, please reach out. We’d be honored to help.