Owning a home allows you and your family a stable environment. You become part of a neighborhood and community with a sense of belonging. With renting, neighbors come and go, but homeowners tend to stay longer in their neighborhoods and establish longer-term relationships.
The Financial Freedom of Homeownership
Many people enter the domain of homeownership as young couples looking to build a family and nest egg. They plan on starting a family and need room to grow. These family homes will see many firsts and will be a part of countless memories. As well, homeownership gives families more room to entertain and this means extended family will also share in building memories.
It is not only young families seeking homeownership. Families with young people seek larger homes for their growing family. Retiring adults may also wish to start a new phase and new memories by seeking out warmer climates or smaller more convenient home environments.
These memories and moments are what life is all about. Good Memories of Christmas mornings and vacations will fill minds for many years.
Renting vs Owning | Which is better?
Renters though have difficulty putting down roots, both literally and figuratively! Renters are rarely afforded the luxury of gardening, planting trees and shrubs, and watching them grow. But as homeowner you are able to create your own gardens and personal environments, planting trees and memories that grow and mature alongside your children.
Usually there is a certain pride that comes with homeownership. There is a tangible piece of property and land you can call yours. You can’t be evicted or told not to plant gardens, trees or shrubs, or that you can’t have a dog or cat as a pet. This sanctuary of yours allows you to form deep attachments to land, home, friends, neighbors and family.
Common Homeownership Responsibilities
There is a pride in homeownership that spurs many to make improvements and additions, to keep the home in working order and to make it more comfortable and usable for the family. This, in addition, improves neighborhood values.
So why do people buy homes? Initially they may have been motivated by changes in circumstances, such as a new job or growing a family, but they buy based on emotions and expectations of a stable home environment for their family. Most people want a home they can call their own, with good times and memories that will last a life time.