9 Reasons Why Buying a Home is Totally Worth It

Most everyone knows that preparing yourself to buy a home can take some discipline and planning. Especially for anyone who may need a little more time to save up for a down payment, you might have to make some sacrifices like postponing a vacation or putting off the purchase of a new car. In the end it is worth it on so many levels. Here is a list of many of the benefits of owning your own home. 

Become established 

Buying a home affords you the opportunity to invest and grow within your community. When you own a home you can get involved in the community with your HOA, neighborhood association or even the town’s committees. These groups can allow you to help influence the future of the area. 

Mortgages force you to save

Paying your mortgage is almost like investing in your future where every time you pay your mortgage you are earning more equity in your home sort of like paying into a savings bank. There have also been surveys over the years that have referenced that the net worth of a homeowner is far greater than that of the average renter. 

Regulate monthly expenses

When you own a home you won’t have the threat of rising rents or landlords that won’t renew your lease because they are looking to move back in or sell. While your taxes and insurance can vary at times, your mortgage can be a fixed amount for the duration of you having it.

Personalize your home

You can paint any room you want, reface your cabinets and install your favorite fixtures when you own. Owning can make for a more comfortable and accommodating house as you customize it to your liking and needs. 

Homeowner tax breaks

There are some tax breaks that you can take advantage of when you are a homeowner as well. Mortgage interest deductions and home sale tax exclusions are just a couple that are beneficial. 

Better retirement footing

Paying off your mortgage by your retirement years is only going to decrease your expenses which is helpful when you are on a fixed income. Even if you cannot pay off your mortgage in time to remain in that home, you can always sell it and downsize with the equity that you have built as an option to get to mortgage free living. 

Privacy

No longer will there be 24-hour entry notices from your landlord. You can also create physical privacy with some plantings, fences or anything else that you like. 

Make money

If you want to earn money with your home, you may do things like renting out a room with a roommate or even putting a room or suite on Airbnb for short term rent. Just be sure to check with your HOA or with local laws for your specific area first to see what is permitted.

Pride

Last but not least, owning your home comes with a sense of pride as you have achieved the American dream and can rest assured that the home you are living in is yours.