The Many Benefits of Homeownership
The link between financial security and homeownership is undeniable. But your home also provides a sense of gratitude, pride, and comfort. Here are some of the best emotional and financial benefits that come with owning a home. The Emotional Benefits of Owning a Home Are Powerful In their list of top reasons to buy a home, the National Association of Realtors (NAR) highlights some of the powerful, non-financial aspects of homeownership. Among them is the opportunity to customize your home to reflect your personality and needs: “The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.” Another benefit homeowners enjoy is the stability it provides. Homeowners typically stay put longer than renters. According to NAR, when you remain in one place for more than a few years, you can grow closer to your community, which can enhance your sense of pride and lead to better relationships. Owning a Home Is a Building Block for Financial Success The benefits of homeownership extend beyond the emotional too. Owning your home is a cornerstone of achieving financial success. As Leslie Rouda Smith, President of NAR, says: “Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability ."
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