Monday, September 29, 2014

5 Benefits to Becoming a Homeowner

Learn more about the benefits to being a homeowner. Everyone will tell you that there are financial benefits to owning a home but it’s important not to forget other positive reasons that have nothing to do with money.

1 – Security

If you’ve been a renter before, you know that your ‘rights’ are limited and many times the possibility of moving rests on the whim of your landlord. When you buy a home – it puts you in control. As long as you make your payments, you are the master of your castle and that security can help you sleep better at night.

2 - Education

Most buyers consider the local school district when they purchase a home. Since you cannot be forced to move (as mentioned above), your children will enjoy the stability and growth in a strong school district which gives them a better head start. Plus studies show that children who live in a home owned by their parents do better in school!

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3 – Freedom

Renting a house that isn’t yours adds constrictions to customizing your living space. You have to ask permission if you want to change anything and most of the time, you won’t be able to paint or decorate the way you would prefer. Plus additions or normal damage can violate your lease or eat up your deposit. When you own your home – it’s yours and you’re in charge of the changes.

4 – Memories

Most people reminisce about the home they grew up in and if you have or are planning to have children, the idea of building these foundation experiences is important. The memories you enjoy in a home you own will last a lifetime and your home will acquire the ‘scars’ that will remind you of each experience for years to come.

5 – Pride

This is one benefit that often gets overlooked but ranks high on people’s priorities. The sense of pride of owning your own home is considered part of the American Dream. Since it ranks as one of the largest investments you will ever make – it’s only natural that owning your home would come in as one of your biggest achievements.

Key Take Away

If you are considering whether "to buy or rent" – make sure you look at all of the pros and cons of both sides including the benefits that don’t have a dollar value!

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All information provided in this publication is for informational and educational purposes only, and in no way, is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Midwest Equity Mortgage, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Midwest Equity Mortgage, LLC do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

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