We’re sharing three of our favorite benefits of homeownership.
June is the time to kick off the summer season, have some fun, and enjoy the warmer weather. However, did you know that June is also the month of remembering the value of homeownership? That’s right—June is National Homeownership Month! To celebrate, we want to share three of the biggest benefits to owning a home.
First is general stability. According to the National Association of Realtors’ data and statistics, people who own a home are happier and healthier than those who don’t. People also tend to stay in homes they buy longer than places they rent. After all, buying a home requires confidence that you’ll stay there for at least a few years.
Plus, fixed-rate mortgages mean you’ll pay the same monthly amount the whole time you live in your house. On the other hand, rents will increase over time or when your lease expires.
Another benefit of homeownership is that it’s a long-term investment. Here in Tulsa, the average home price has increased a ton over the last few years. Homeowners have a ton of equity, so it’s a better investment than other options.
Speaking of equity, that’s another huge benefit of homeownership. Equity is the difference between what you owe on a home and what you can sell it for. This means you get more equity as home values increase. Over time, more of what you pay each month goes towards your loan balance instead of interest, so you’ll build equity faster.
You also own your home. No one can take it away from you as long as you’re paying your mortgage. Barring any outside factors, you can renovate and customize your home however you like. It will always be there for you, and when it’s time to move on, you can sell it and see a big return on your investment.
Let us know what owning a home means to you. Just call or email us with any questions. We look forward to hearing from you!
