5 Reasons To Be a Homeowner, Plus Some


Many, many years ago I owned a home. I am again a homeowner. There are so many things that I have forgotten being a renter for the last 13 years.

Things like:

  • If something breaks (i.e. faucets, windows, drawers, cabinets, drawers, etc.) – I have to fix it
  • If the blinds, window screens, carpet, or wood floors get ruined – I have to fix or replace them
  • If the stove or dishwasher stop working or backs up – I have to get them fixed
  • I am responsible for cleaning, updating, and maintaining the pool
  • If a hole gets put into a door or wall, or a window gets broken – I have to fix or replace it

Even with all of these things that I must fix or replace, there are many, many benefits of being a homeowner.
Such as:

  • I can put in whatever appliances (i.e. faucets, stoves, dishwashers, etc.) I want
  • I can change the paint color or decorations in any room of the house that I want
  • I can change out the blinds or hang whatever drapes I choose
  • I can tear out walls, add walls, move electrical outlets, and change out lighting fixture as I so choose
  • I can remodel my bathrooms however I want, or any room for that matter

Anything I want to change, anything I want to do, I can do to my house. And, through all of the upgrades I am building equity in my home (obviously, as long as the upgrades are done correctly).

Besides for these (amazing) reasons for owing a home, here are a few more reasons to own a home:

  1. Stability – this is a big one for me. Creating a stable atmosphere for you and your family helps reduce stress, allows you to create long-lasting friendships within your community, allows you to become actively involved in community and service activities, and gives you a sense of belonging because you know you’ll be in the community and area for a long time.
  2. Predictability – if you choose a fixed loan, as I did, you won’t have to worry about the yearly increases of your mortgage payments, as you would when renting a home. However, property taxes, insurance, etc. can (and likely will) increase over the years.
  3. Tax breaks – YAY! I always love tax breaks! Purchasing a home allows you to deduct property taxes, some of the costs involved in purchasing the home, and the interest you paid on the mortgage at tax time.
  4. Automatic savings – when you rent a house you are paying someone else to build equity in their home. In addition, you will usually pay more per month to rent than you would to purchase a home. In my case, my mortgage payment (all inclusive) is just under half of what I’ve been paying for rent on a smaller place. Definite savings!
  5. Building good credit and equity – as you pay your mortgage payment each month you’ll be billing good credit, and equity. And as you make upgrades to your home (needed or wanted) you will also be building equity as the value of your home increases.

As scary as it is, I’m super excited to begin this new journey of my life with my family. I have been fortunate enough to find a home that allows me to bring my parents in and my brother-in-law. One big happy family! Grandma, Papa, and Uncle get to spoil their grand kids / nieces / nephew whenever they want. Yet another great reason to buy a home.

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