6 Foundational Benefits of Homeownership Today

Ryan Band • Mar 11, 2021

6 Foundational Benefits of Homeownership Today

6 Foundational Benefits of Homeownership Today | MyKCM
Over the past year, our homes have become an integral part of our lives more than ever. They’re much more than the houses we live in. They’re our workplaces, virtual schools, and safe havens that provide shelter, stability, and protection through the evolving health crisis. Today, 65.8%  of Americans are fortunate enough to call their homes their own.

As we continue to think about the future, our goals for the year, and what we want to achieve well beyond 2021, it’s a great time to look at the benefits of owning a home. Below are some  highlights  and quotes on the benefits of homeownership shared by the  National Association of Realtors  (NAR). From feel-good motivations to economic and social impacts on the local community, these items may give you reason to believe homeownership stretches well beyond your financial investment.

Non-Financial Benefits

Owning a home brings a sense of happiness, satisfaction, and pride.

  • Pride of Ownership:  It feels good to have a place that’s truly your own, especially since you can customize it to your liking.  “The personal satisfaction and sense of accomplishment achieved through homeownership can enhance psychological health, happiness and well-being for homeowners and those around them.”
  • Civic Participation:  Homeownership creates stability, a sense of community, and increases civic engagement. It’s a way to add to the strength of your local area and drive value into your neighborhood.

Financial Benefits

Buying a home is also an investment in your financial future.

  • Net Worth : Homeownership builds your  net worth. Today, the median household net worth of all homeowners is  $254,900 , while the median net worth of renters is only  $6,270 .
  • Financial Security:  Equity, appreciation, and more predictable monthly housing expenses are huge financial benefits of owning a home. Homeownership is truly the best way to improve your long-term financial position.

Economic Benefits

Homeownership is even a local economic driver.

  • Housing-Related Spending:  An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country’s economic activity over the past three decades.
  • Entrepreneurship:  Homeownership is also a form of forced savings that can provide entrepreneurial opportunities . “Owning a home enables new entrepreneurs to obtain access to credit to start or expand a business and generate new jobs by using their home as collateral for small business loans.”

Bottom Line

The benefits of homeownership go well beyond the basics. Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact in your community. If owning a home is part of your dream this year, let’s connect so you can begin the homebuying process today.

By Ryan Band 20 Mar, 2024
As winter bids farewell and spring knocks on our doors, it's time to shake off the cold and embrace the renewal that this season brings. Spring isn't just about flowers blooming and birds chirping; it's also the perfect time to give your home some much-needed attention. At Unbridled Homes, we understand the importance of proper home maintenance, especially as the seasons change. Here are some essential tips to help you prepare your home for the arrival of spring: Inspect Your Roof and Gutters: Winter weather can be tough on your roof. Start by inspecting it for any signs of damage, such as missing or damaged shingles. Clear out your gutters and downspouts of any debris to ensure proper drainage during spring rains. Check Your Exterior for Damage: Take a walk around your home to inspect the exterior for any cracks, gaps, or damage caused by winter weather. Seal any cracks in the foundation. Caulk around windows and doors to prevent drafts and moisture intrusion. Service Your HVAC System: Before the heat of summer arrives, schedule a professional HVAC inspection and service. Change air filters, clean vents, and ensure that your system is running efficiently to keep your home comfortable throughout the warmer months. Clean and Maintain Outdoor Spaces: Give your outdoor spaces some TLC by cleaning and inspecting decks, patios, and walkways. Power wash surfaces to remove dirt and grime, and inspect for any signs of damage that may need repair. Prep Your Lawn and Garden : Spring is the perfect time to get your lawn and garden ready for the growing season. Remove any debris, aerate the soil, and apply fertilizer to promote healthy growth. Trim back overgrown bushes and trees, and prune flowering plants to encourage new blooms. Test Your Sprinkler System: If you have an automatic sprinkler system, now is the time to test it and make any necessary repairs or adjustments. Ensure that sprinkler heads are working properly and adjust the watering schedule as needed based on seasonal changes. Inspect Outdoor Lighting: With longer days and warmer evenings, outdoor lighting becomes essential for both safety and ambiance. Inspect outdoor light fixtures for any damage or wear, and replace bulbs as needed. Consider adding new lighting fixtures or upgrading to energy-efficient LED bulbs for added savings. Clean Windows and Screens: Let the sunshine in by cleaning your windows inside and out. Remove and clean window screens, and inspect them for any tears or damage that may need repair or replacement. Check for Pest Infestations: As temperatures rise, pests become more active. Take the time to inspect your home for any signs of infestation. Look for droppings, gnaw marks, or entry points where pests may be gaining access to your home. Prepare for Allergy Season: Springtime allergies can put a damper on the season, so take steps to minimize allergens in your home. Vacuum and dust regularly, wash bedding in hot water, and consider investing in an air purifier to improve indoor air quality. By following these essential home maintenance tips, you can ensure that your home is ready to embrace the joys of spring. If you're considering building a custom home or undertaking any major renovations, our team at Unbridled Homes is here to help. Contact us today to learn more about our services and how we can help you create the home of your dreams.
By Ryan Band 27 May, 2021
  Homeownership Is Full of Financial Benefits A Fannie Mae survey recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today’s power-packed housing market. Here are the top four financial benefits of owning a home according to consumer respondents: 88% – a better chance of saving for retirement 87% – […] The post Homeownership Is Full of Financial Benefits appeared first on Unbridled Homes.
By Ryan Band 20 May, 2021
Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax […] The post Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year appeared first on Unbridled Homes.
By Ryan Band 13 May, 2021
How Much Time Do You Need To Save for a Down Payment? One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. […] The post How Much Time Do You Need To Save for a Down Payment? appeared first on Unbridled Homes.
By Ryan Band 29 Apr, 2021
Will the Housing Market Bloom This Spring? Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about […] The post Will the Housing Market Bloom This Spring? appeared first on Unbridled Homes.
By Ryan Band 15 Apr, 2021
What Are the Benefits of a 20% Down Payment? If you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment options […] The post What Are the Benefits of a 20% Down Payment? appeared first on Unbridled Homes.
By Ryan Band 01 Apr, 2021
Where Have All the Houses Gone? In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed […] The post Where Have All the Houses Gone? appeared first on Unbridled Homes.
By Ryan Band 25 Mar, 2021
3 Ways You’ll Win When You Buy a Home This Year There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. CoreLogic indicated that equity increased for the […] The post 3 Ways Home Equity Can Have a Major Impact on Your Life appeared first on Unbridled Homes.
By Ryan Band 18 Mar, 2021
In today’s housing market, all eyes are on millennials. Not only are millennials the largest generation, but they’re also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate. If you’re like many millennials who are spending […] The post Millennials: Is It Time to Buy a Bigger Home? appeared first on Unbridled Homes.
By Ryan Band 04 Mar, 2021
There are so many great reasons to purchase a home, and over the past year, we’ve realized more of them than we ever thought possible. If you’re a first-time homebuyer, having a home of your own can give you a greater sense of security and accomplishment in a time that’s largely uncertain. If you’re a […] The post 3 Ways You’ll Win When You Buy a Home This Year appeared first on Unbridled Homes.
More Posts
Share by: