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The Yankee Express

The dream of homeownership is worth the wait

Mark Marzeott

By Mark Marzeotti

If you’re in the market to buy a home this season, stick with it. Homebuyers face challenges in any market, and today’s is no exception. But if you persevere, your decision to purchase a home will be worth the effort in the end. In fact, a recent survey among new homeowners revealed that nearly three in four say they would still buy their current home if they had it to do all over again.
That means the results of owning a home and the benefits that come with it outweigh the effort needed to achieve their goal. If you’re a homebuyer, let that give you the confidence to know the work you’re putting in today will pay off for years to come.
Here are a few reasons to stick with your search and focus on the outcome.
• Homeownership contributes significantly to your financial well-being. The National Association of Realtors (NAR) lists several motivations to consider if you’re thinking about buying a home. One of the top financial reasons is the equity you build. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity. Building equity in your home is a ready-made savings plan. Your equity is a powerful tool you can leverage in a number of ways. And with recent home price appreciation, homeowners are seeing record levels of equity today. That may be one reason why so many people view owning a home as a great investment and a top indicator of financial well-being. In fact, the same recent survey mentioned above reveals that Americans place a higher value on homeownership than on any other indicator of economic stability.
“Owning a home ranks above other major accomplishments, like retirement, having a successful career, and getting a college degree.” That shows just how impactful the financial benefits of homeownership truly are.
• The emotional benefits of owning a home are powerful too. Of course, homeownership is more than an investment. In a buyers’ list of top reasons to buy a home, some non-financial aspects of homeownership emerge. Among these 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. When you remain in one place longer than a few years, you can grow closer to your community. And that can enhance your sense of pride and lead to better relationships.
What does that mean for you? The benefits of homeownership are powerful, from building personal wealth to fostering communities.
Even if you face challenges in today’s market, the payoff when you succeed and purchase a home will be worth it.
If you’re planning to buy a home this year, there are incredible benefits waiting for you at the end of your journey. Speak with a team member at Marzeotti Group or a trusted real estate advisor today about everything homeownership has to offer.