Happy Homeownership Month Benefits Beyond the Bottom Line

BENEFITS BEYOND THE BOTTOM LINE

Dorothy was right. There really is no place like home. Americans treasure a space to call their own, and we celebrate June as National Homeownership Month! It’s no secret that owning a home is a solid investment. But there are many benefits to homeownership that are just as valuable as earning equity.
Whether you currently own or aspire to someday, here are just a few of the perks of finding – and flourishing in – your own distinctive domicile:

Healthy Head Start

Having a homestead can actually make you healthier. The National Association of Realtors released a study1 in 2016 stating that homeowners are 2.5 to 3.1 percent more likely to have good health, and report higher life satisfaction overall. Who knew that a mortgage could magnify your wellbeing?

Community Connection

One of the most powerful emotional benefits to homeownership is that it provides an opportunity to put down roots in a community. Making new neighborhood friends not only feels good, it actually gives you a chance to do some good. Offer to help any neighbors in need (elderly, single parents, etc.) to maintain or beautify their own home and landscape. Host a simple block party with light refreshments to bring everyone together to welcome new arrivals and catch up with long-time residents.

Furry Friends

While some rental properties allow pets, there are often strict limitations in terms of how many and what kind you can have. Unless you are planning to start a virtual petting zoo, most homeowners’ associations (HOAs) offer more leeway when it comes to bringing animals into the family fold.

Explore Décor

A new home is the perfect canvas for letting your creative streak run wild. Whether you want to paint the walls purple or just opt for a little understated crown molding here and there, you’ve got free reign. So, have fun with it! Grab some decorating magazines, browse ideas online or invite a design-savvy friend over for coffee and an inspired brainstorming session.

The Great Outdoors

Time outside is one of the best ways to refresh and de-stress. And what better place to do it in than your own backyard? Even smaller single-family homes or townhouses generally have a yard area or patio large enough to relax in with family and friends. Have a little more room? Consider adding a small garden or flowerbed to enhance your outdoor space.

Curious about your ownership options? Connect with a lending professional today to ponder the possibilities. Your “homecoming” may happen sooner than you think!

“Social Benefits of Homeownership and Stable Housing” – National Association of Realtors® – Lawrence Yun, PhD and Nadia Evangelou – December 2016

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