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11 Ultimate Reasons Why YOU Should Own a Home


While it may seem like owning a home might not be the way to go, we’re here to tell you that it is.


You might be thinking of things such as the risks and barriers associated with buying a home. Some of which being, the threat of depreciation, being tied down to one place, and saving enough money for a down payment. However, as they say NO RISK, NO REWARD.

For every reason you could think of not to own a home, there is double that for the reasons why you should.


Here is a few of our favorites: 


1. LOW MORTGAGE RATES. This one is actually an advantage of buying a home right now and does not necessarily apply to all time periods. Right now, we are seeing some of the lowest mortgage rates offered historically. Yes, you read that right… these are record breakers in the world of mortgage rates. Because of the low mortgage rates, right now is actually the perfect time to start your home ownership journey.

So… if mortgage rates was something that was holding you back, you’re welcome. We stomped that for you.



2. INFLATION.  Nobody really likes this word… but the good news is, you’re protected from this when you’re a homeowner. How? Well, if you have a fixed rate mortgage, the price you pay for your humble abode can’t change, regardless of what is happening with interest rates or the economy. The price you pay for your home is officially locked in for the entirety of your loan’s life. Cool right?



3. TAX BREAKS.  There are a few tax breaks that can only be deducted if you are a homeowner. Unless your loan is more than $1 million, you can write off the amount you paid in interest the year prior.  This is especially beneficial considering it’s likely that the majority of your monthly payment is going to be interest for the first few years of your homeownership journey. You can also deduct your property taxes – which is likely another large portion of your monthly loan payment, and in some cases you can also deduct your private mortgage insurance.

ALSO, when you sell your home, you will be able to avoid some of the taxes on the profit that you make if you meet the ownership and residency requirements. These requirements are simple, and most people meet them without even realizing the benefits that they can obtain from this. All you have to do is have owned the home for at least two years, or lived in your home for two of the past five years you’ve owned it. Easy enough right?



4. BUILDING EQUITY. Equity is a word that gets thrown around quite a bit when talking about purchasing a home. If you don’t know exactly what this is, or what it means for you, don’t worry. We’re going to explain it.

Equity is the value of a property that you actually own. For example, if your home is valued at $250,000, and you owe $100,000 to the lender, you have $150,000 in equity.

“Great… so I know what equity is, but how do I build it?”

You took the words right out of our mouth.  You grow your equity through paying your mortgage each month, thus lessening the amount that you owe. A fixed-rate mortgage payment is made up of a principal and interest portion. When you start off, you will inevitably be paying more interest than principal. Over time, the principal part of your payment increases slightly every month year after year after year. It’s lowest on your first payment and highest on your last payment. So basically, each payment that you make brings you closer to OWNING more of your home and OWING less!



5. STABILITY. Who doesn’t love some good stability? In addition to the obvious stability of settling in and having a definite place to live, owning a home provides social stability. Studies show that homeowners are more likely to be educated in ongoing political and social news. Also, people who own homes are more likely to be involved in their community and build relationships with other people in the community, thus providing them with a solid foundation upon which to build their lives.

Another study by the American Neighborhood Reinvestment Project found that children of homeowners score higher on reading and math assessments and are more likely to graduate from college. These statistics are not only staggering, but prove that owning a home can help set your children up for a successful future.



6. PROFIT OPPORTUNITY. When you own a home, this essentially means that someday you will have a piece of property that you can sell for a profit, rent out, or reap the benefits of living without having to worry about a monthly mortgage!



7. CREDIT BUILDING. As long as you consistently make your monthly loan payments and make them ON TIME, you are showing other lenders that you are a good borrower and the risk of you defaulting on a loan is minimanl. This helps to build your credit, which can in turn be helpful in the future if need other loans for buying a car, remodeling your home, or paying other major expenses.



8. FREEDOM TO MAKE IT YOUR OWN. When you own a home, you are completely free to customize the home however you please. Purple walls? Go for it. Want to change the flooring? Be our guest. Take out a wall in the kitchen to open up the space to the living area? You got it. Want a pool in the backyard? Get it!

This differs from cases where you do not own your own home because many renters have rules against pets, the color you can paint rooms (if you are even allowed to paint), and/or changes you can make to the appearance of your house.

When you own, you can do all the things that make a house your home without having to get anyone else’s approval. Add whatever you like to the inside of your home, just be careful not to do anything that might decrease its resale value.



9. PRIVACY. One of the greatest benefits of owning your home if you ask me!  When living in an apartment, you might have to deal with thin walls and noisy neighbors. This is much less likely when you own a house. Of course, there can be the occasional noisy neighbor, but the area that separates you from them is typically a lot larger



10. CONTROL. For all of our fellow control freaks out there, this one is for you. Having full range of the present and future aspects of your home and what happens in it is one of our favorite benefits. Basically, unless you change the terms of your mortgage, you know the base cost that you’re going to be spending to live in your home every month, both now and in the future. And control over costs goes even further than that. As a homeowner, you have the power to change/add/remove whatever you need to fit your needs. One example is energy-efficient appliances. This can save you hundreds of dollars every year, and you have the ability to do it. As a homeowner, you can also make better short and long-term financial decisions that are geared specifically toward your own financial goals and abilities. While this isn’t likely going to help you save for your future in the same way building equity does, it should bring you peace of mind to know that you’re saving money everywhere that you can.


Last, but certainly not least…



11. THE PRIDE OF OWNERSHIP. It feels good to be able to call something your own. This isn’t something that just coming from us either. It’s actually one of the major advantage that almost all homeowners report. The feeling of accomplishment. This sense of stability and accomplishment is often times a major factor in many people’s decision to buy.

In addition to the pride that owning your own home can bring, when you’re a homeowner, not only can you call the space your own, but you have somewhere that you and your family can make memories, celebrate holidays, and spend time with friends. For most people, it’s a very important milestone in their lives.

It’s pretty much a win, win!



If you still have concerns or doubts about homeownership after reading this, we have a million more reasons as to why it’s so beneficial for people. You can also ask the homeowners that you know! We feel very confident that they will attest to the benefits that we just named. It’s a great feeling and comes with a ton of great benefits!


Don’t hesitate to reach out to us for not only this topic, but anything else you might want information on regarding real estate! It’s what we do and we are here for you.




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