{"id":7777,"date":"2022-06-02T10:00:49","date_gmt":"2022-06-02T10:00:49","guid":{"rendered":"https:\/\/thezakariagroup.com\/how-homeownership-impacts-you\/"},"modified":"2022-06-02T10:00:49","modified_gmt":"2022-06-02T10:00:49","slug":"how-homeownership-impacts-you","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/how-homeownership-impacts-you\/","title":{"rendered":"How Homeownership Impacts You"},"content":{"rendered":"
\n

\"How<\/p>\n

June is National Homeownership Month<\/a>, and it\u2019s the perfect time to reflect on how impactful owning a home can truly be. When you purchase a house, it becomes more than just a space you occupy. It\u2019s your stake in the community<\/a>, an investment<\/a>, and a place you can put your stamp on.<\/span><\/p>\n

If you\u2019re thinking about buying a home this year, here are some of the benefits you\u2019ll experience when you do.<\/p>\n

The Emotional Benefits of Homeownership<\/strong><\/h4>\n

Because it\u2019s a place that\u2019s uniquely yours, owning a home can give you a sense of pride and happiness<\/a> in several ways.<\/p>\n

Your Home Can Reflect Your Tastes and Personality<\/em><\/strong><\/h5>\n

Investopedia<\/em> puts it like this<\/a>:<\/p>\n

\n

\u201cOne often-cited benefit of homeownership is the knowledge that you own your little corner of the world.<\/strong>\u201d<\/em><\/p>\n<\/blockquote>\n

That knowledge can lead to a powerful, emotional connection<\/a> to the place where you live. But so can the realization that your home will grow with you. Because it\u2019s yours, you have the freedom to make updates to it as your needs and tastes change. As Logan Mohtashami, Lead Analyst for HousingWire<\/em>, says<\/a>:<\/p>\n

\n

\u201cThe psychology is that this is yours and you\u2019re going to make it as good as possible because you\u2019re in for a long time, . . . \u201c<\/em><\/p>\n<\/blockquote>\n

And that can create a greater sense of ownership, pride, and connection with your home and your community.<\/p>\n

It Can Enhance Your Neighborhood and Civic Engagement<\/em><\/strong><\/h5>\n

Homeownership can lead you to get even more involved with your local area. After all, you\u2019re putting your roots down in a location and will want to do what you can to help improve it, much like your home. In a recent report, the National Association of Realtors<\/em> (NAR) says<\/a>:<\/p>\n

\n

\u201cLiving in one place for a longer amount of time creates and [sic] obvious sense of community pride,<\/strong> which may lead to more investment in said community.\u201d<\/em><\/p>\n<\/blockquote>\n

The Financial Benefits of Homeownership<\/strong><\/h4>\n

When you choose to become a homeowner, you\u2019re making a financial decision as well. That\u2019s because your home is also an investment.<\/strong><\/p>\n

It Can Help You Feel Financially Stable<\/em><\/strong><\/h5>\n

Homeownership is truly one of the best ways to improve your long-term financial position. Not only will you have a predictable monthly housing expense<\/a> that can benefit your budget in the short term, but you\u2019ll also gain equity<\/a> as your home appreciates in value and you make your monthly mortgage payment. As Freddie Mac<\/em> says<\/a>:<\/p>\n

\n

\u201cBuilding equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.\u201d<\/em><\/p>\n<\/blockquote>\n

It Can Grow Your Wealth<\/em><\/strong><\/h5>\n

Because of your growing equity, you can build your net worth<\/a> as a homeowner. And when you compare the difference in net worth between a renter and a homeowner, it\u2019s clear that owning a home truly offers a great way to build your long-term financial position.<\/p>\n

According to the latest data<\/a> from NAR, the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner\u2019s net worth is nearly 40 times that of a renter.<\/strong><\/p>\n

Bottom Line<\/strong><\/h3>\n

Homeownership is truly a way to find greater satisfaction and happiness and to build financial freedom. If National Homeownership Month has you dreaming about purchasing a home, then let\u2019s connect to begin the process today.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

June is National Homeownership Month, and it\u2019s the perfect time to reflect on how impactful owning a home can truly be. When you purchase a house, it becomes more than just a space you occupy. It\u2019s your stake in the community, an investment, and a place you can put your stamp on. If you\u2019re thinking […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,101,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nHow Homeownership Impacts You - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/how-homeownership-impacts-you\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Homeownership Impacts You - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"June is National Homeownership Month, and it\u2019s the perfect time to reflect on how impactful owning a home can truly be. 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