While there are many quantifiable benefits of homeownership, like building equity, there are also numerous intangible benefits that can be just as important. Here are a few to consider.

1. Sense of Stability: Owning a home means putting down roots which lends itself to deeper relationships with neighbors and becoming more integrated into the neighborhood. This can boost emotional well being!
2. Pride of Ownership: People often list buying a home as their proudest achievements- as they should! If it was easy, everyone would do it. Buying a home at 27 was definitely one of my biggest accomplishments- I’d even put it above graduating college and getting my teaching credentials!  I felt like a total rock star when I got my keys.
3. Creative Freedom: Owning a home means you can personalize it to your style, needs and desires. Paint it pink, turn a bedroom into a closet, put a garden in the front yard, the world is your oyster!
4. Community Engagement: Homeowners tend to be more involved in community activities and local events. This can lead to a tighter-knit community and a higher quality of life for everyone involved!
5. Stability for Families: Having a consistent home environment promotes emotional well-being, supports healthy family dynamics and provides a consistent foundation for children to grow and thrive. Owning a home can also help create generational wealth.
6. Long Term Financial Benefits: Many just look at the financial costs/benefits in the short term, however, your home can be a possible source of retirement income or become leverage for other investments.

When weighing the pros and cons of purchasing a home, you should consider the intangible benefits along with the financial ones. If you are looking for someone to discuss all the options and scenarios with you, I’m always happy to provide a free 1 hour consultation to potential clients!