Home Is
Where The Heart Is
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 We have discussed
the reasons why homeownership makes sense, financially. Today we wanted to
touch on the emotional or ‘real’ reasons that many Americans strive to become
homeowners. The Joint Center
for Housing Studies at Harvard University performs a study
every year surveying participants for the reasons that American’s feel are most important
in regards to homeownership. The top 4 reasons to own a home cited by
respondents were not financial.
1. It means having a
good place to raise children & provide them with a good education
From the best neighborhoods to the best school districts, even
those without children at the time of purchasing their home, may have this in
the back of their mind as a major reason for choosing the location of the
home that they purchase.
2. You have a
physical structure where you & your family feel safe
It is no surprise that having a place to call home with all
that means in comfort and security is the #2 reason.
3. It allows you to
have more space for your family
Whether your family is expanding, or an older family member is
moving in, having a home that fits your needs is a close third on the list.
4. It gives you
control over what you do with your living space, like renovations and updates
Looking to actually try one of those complicated wall
treatments that you saw on Pinterest? Want to finally adopt that puppy or
kitten you’ve seen online 100 times? Who’s to say that you can’t in your own
home? The 5th reason on the list, is the #1 financial reason to buy a home as
seen by respondents:
5. Owning a home is
a good way to build up wealth that can be passed along to my family
Either way you are paying a mortgage. Why not lock in your
housing expense now with an investment that will build equity that you can
borrow against in the future?
Bottom Line
Whether you are a first time homebuyer or a move-up buyer who
wants to start a new chapter in their life, now is a great time to reflect on
the intangible factors that make a house a home.
SOURCE: Those smart guys at KCM.com
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