Having a home that can be called yours is one of the greatest dreams for most people, and some people find this their topmost priority in this life. For those that are leasing their space, you might have an idea of the importance of owning your home.
Of course, the upfront cost is more expensive compared to a monthly payment of a rental. However, owning a home is more significant than you might think it is. It gives benefits far beyond financial benefits. In this article, we have listed some of the important aspects that owning a home offers.
Owning a home means staying at that particular address for tens of years or, for some, a lifetime. Since human beings are created to long for a sense of belongingness, it is most likely that you will be more engaged with your neighbors.
With a mindset that you will stay in the place not only for a temporary time, but you will also most likely make an effort in having and maintaining a good relationship with the people around you. You will not hold yourself back from becoming attached to the place and its people. You will socialize, volunteer, and help them in times of need.
And in turn, they will do that for you too. Homeowners often get involved with the community’s politics, attending council meetings, school boards, and getting into groups and organizations. Engaging and having a connection with your community brings a different feeling of satisfaction and belonging.
Removing from the equation any financial liabilities that you may have, owning a home takes away many things in mind, which reduces stress. First is the rent. You won’t be thinking of paying somebody for the space that you are living in, and you won’t worry about the rent inflating at any time. Owning your home would give you a stable monthly payable for the utilities, and help you make a better, efficient financial plan. This would also allow you to save a couple of bucks more.
Second, you will move less frequently, which can unburden you of so much stress. From selecting the house you are to move in and packing up all the things to unpacking it afterward, the process is thorough and needs extra time and effort. So, setting your roots in one place might remove a hefty amount of stress from you.
And lastly, you can alter your home. You can create the home you want without someone or a contract restricting you. You can hang anything on the wall, you can paint, or renovate your home without asking for somebody’s permission. You have control over your environment wherein you can feel less stress, maybe through making the ambiance as homey and pleasing as you like.
Positive Effect On Children
Children will Exhibit Better Performance in School
A couple of studies show that children of homeowners tend to score 9% and 7% better in math and reading, respectively. One reason that researchers pointed as the cause is stability. They develop friendships and establish their name too. Children love routine.
They know what to expect and how to act every day. If they are mobile all the time, children tend to be aloof with their circle. Thus, they will do better in school when they find their circle. Having a stable home and not moving often not only benefits you, but your children as well.
Children will Behave Better
Research shows that homeowner’s children exhibit 1-3% fewer behavioral problems compared to children of non-homeowners. These behavioral problems could include anxiety, depression, bipolar disorder, ADHD, PTSD, and many more.
Researchers point out that the reason for this could be the stability their kids feel when their parents own their home. The children might be sensing the ease at their parent’s countenance that they can feel the security. Another reason is that there is a positive correlation between the parents’ happiness and children’s happiness. If one party is happy, the other is too.
You can be the master of your own home. You can do whatever you want; you can take control of anything at any time, unlike when you are living in somebody else’s place, where you don’t have a say in the materials and chemicals they are to use in your living place. Sometimes, landowners don’t even bother looking at the house for any pest problems, termites, rodents, and molds that can harm your family in any way, even the chemicals.
But when you own your home, you can choose non-toxic materials and natural chemicals, reducing the risk of inhaling dangerous ingredients found in various substances. You can provide a solution to the molds and pests before it becomes a bigger problem. You can look up what works best for your family ensuring that you are providing a healthy environment for them.
For the Community
Homeownership helps in enhancing the surrounding area of the homes. Homeowners tend to strive in keeping their homes looking their best, both interior and exterior. They keep their properties looking nice and beautiful, and their sense of responsibility and stewardship extends to the whole community and contributes to the façade of the area.
The community also benefits from the taxes paid by the homeowners, and these collections of money are used in developing the environment through infrastructure services and projects such as road repair, construction of schools, parks, and greenways, police and fire protection, snow removal services, government social services, and other improvement and beneficial infrastructure projects. All of these become perks for the place and its people.
The housing industry greatly affects the economy. When home sales are high, jobs are also high. The more people come to the city, the greater possibility that employers and employees will flourish and prevent poverty from rising.
Unemployment is a huge contributing factor to poverty, stress, and social dilemma. Thus, the housing industry creates a more stable local and national economy. The housing numbers also contribute to the forecast where the overall economy of the state is headed since a great number is to be involved and will be a great help.
The impact on a person when possessing a home goes beyond the financial aspect. The emotional and psychological gains of a stable environment could be more vital than any tax exemption it could give. In total, it contributes to the whole well-being of a person, including the physical, emotional, psychological, and spiritual. How great it is for everyone to own their own home, then continuously thrive, and have a good lifestyle that contributes to the community, to the state, and the nation.
However, as you may know, being a homeowner may not be possible for everyone as it comes with great responsibility and most especially, a need for financial resources. That is why people strive hard. But what about those unprivileged, financially challenged people, and incapable, handicapped persons, as well as the low-income families that are deprived of having the opportunity of having their own so they are forced to rent their shelter?
As an individual who is capable and richly blessed, there is a way where you can give to those who are struggling in becoming homeowners and give them a chance to have their own home. It is through The Dream Homes Project.
The Dream Homes Project aims to freely give suitable living spaces in Colorado for anybody that needs a place to live, such as single parents, the elderly, young families, former foster children, or anyone that qualifies. All you have to do is to join the cause. Be a volunteer in constructing the homes, or give monetary donations through this link. To know more about this goodwill, and how we work, visit our website. If you have any questions, contact us now at +760-218-8472, or send us an email at [email protected] Not only will you bless other people, but also contribute to the community.