Homeownership is no doubt the best investment that can be made. Owning your home is not without its negative points but they are outweighed by the benefits. There is no other investment where the money invested is as safe and that you can actually enjoy while having it. The process to home-owning is made even easier when you’ve got a realtor that you trust in your corner.
Owning a Home Gives Security
The security that comes from homeownership results from there being few situations where it can be lost. Those situations usually only include failure to pay the mortgage or property taxes. As a result of owning your home, there is no lease to run out forcing a move. Also, owning a house long enough, you will pay off the mortgage and that risk is removed. So, the security of homeownership is that a knowing there will be a roof over your head even in hard times. It is a comfort that does not exist when renting.
Owning a Home Gives Privacy
Being a homeowner provides a level of privacy that renting lacks. While a landlord cannot simply barge in on a renter whenever he wants, he does have the right to check up on the house. As a result, there is a limit to the amount of privacy that renters have. As a homeowner, you do not have this problem since no one else has a right to be on the property. Furthermore, the homeowner is free to increase their privacy by adding a fence or wall if they want to.
Owning a Home Gives Freedom
Being a homeowner gives you a freedom that renters do not have. Within the boundaries of the law, there is freedom to do whatever you want with the property often without asking anyone. This also includes the freedom to take the risk of doing damage by working on the property yourself. You can choose to update your home in the way you see fit, for example. There is no limit imposed by a lease or any other from a rental agreement because all the rights to the property are yours. While most areas do have laws placing some limits on the uses of your real estate, they are also there to protect the property from the neighbors as well.
Owning a Home Gives Value
When you buy a home, you are buying more than just a pile of wood or bricks. Real estate is something of value. First, a well-kept house will increase in value over time. Second, usually with your ownership of the land comes ownership of the mineral rights to it as well. There are exceptions to this where the mineral rights have been sold but in general, if you own land you own the minerals underneath it. This gives value to the land because when you sell a home mineral rights usually go with it. When you go to sell your home, don’t make common mistakes, and you’ll have the ability to realize the equity that has been built up by appreciation of value as well as paying down the principal on the mortgage. If you are thinking about selling, you will want to keep as much of that equity as possible by using a discount real estate broker.
Owning a Home Gives Good Feelings
Homeownership gives you a connection to that land. Coming around that last corner when arriving at home means more as the owner. This is something that cannot be easily explained to someone who has never owned land before, but there is a special feeling to land ownership. Regardless of how small and maybe, owning land means owning a little part of the world. When that little part of the world is your home, it is even more special. This is because when living on a piece of land that you own it really makes it home.
Owning your home is the best investment you can make. Once the mortgage is paid off, there was a level of security renters cannot have. It provides equity that can be used or pass on to your children. No other investment is as safe, or as usable as your home. For more information, or to start your process of owning a home, contact a trusted Realtor today!