Nevada City Virtual Tour

Tuesday, November 8, 2011

Why own a home rather than rent? It's more than about money.

The Joys of Owning a Home
Experts talk about the latest statistics about long-term wealth, home values, and interest rates, yet there's a much more sentimental side to home ownership.

In fact, many home buyers are drawn to home ownership for these warm and fuzzy reasons.
Owning a home allows you to put down roots, both figuratively and literally. On one hand you become part of a neighborhood and community. When you rent, neighbors come and go as quickly as leases renew. Homeowners, however, tend to stay put longer.

What does this mean for you? You can develop, many times, lifelong relationships. This also means your home will see you through many of life's important milestones.

It makes sense. Many people enter the realm of home ownership as young couples looking to build a nest. They plan on starting their own family and need room to expand and grow. These family homes will see many firsts and will be the container of countless memories. Additionally, home ownership gives families more room to entertain and this means extended family will also share in building memories.

It's not just young families, though, that seek home ownership. Families with teenagers seek larger homes to room their growing brood. Retiring adults may wish to start a new phase and new memories, seeking out warmer climates or smaller, more manageable homes.

These little moments are what life is all about. Memories from Christmas mornings and summer vacations will fill minds for years to come.

On the other hand you literally can put down roots by planting trees and shrubs! Renters are rarely allowed to do much gardening. Digging up the landlord's yard is frowned upon. As a homeowner you are able to create your own green oasis, including trees that will mature alongside your children and gardens.

There is a certain pride that comes with home ownership. This little piece of property and land is yours. This security allows people to form deep attachments to both the land and home.

This pride of ownership spurs many owners to make improvements and additions, both to keep the home in working order and to make it more comfortable and usable, which in turns improves neighborhood values and overall curb appeal.

Why do people buy? They may be initially motivated by changes in circumstance, such as a new job or a new family, but they buy based on emotional responses. People want a house that can become their home, where they'll fill it with good times and memories. Be sure to remember this sentimental side of home ownership the next time you read about stocks, bonds, and housing woes.

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