Homeownership Tips: From Purchase to Maintenance

A recent survey by Gallup ranked real estate as the best investment you can make for the eighth year in a row. Subsequently, more than 65% of Americans now call their homes their own, a rate that just hit its highest point in the last 8 years. #timetocelebrate

June is National Homeownership Month and here at Live.Laugh. it is no surprise we think homeownership is pretty awesome. While the financial benefits are nice, you can't discount the non-financial impacts of homeownership. When people feel at home, they thrive! This is important in building strong, stable communities and is what drives everything we do!

We have put together a list of the top six benefits of homeownership and some of these may surprise you:

Social Benefits

1. Sense of Community - Owning a home is owning a part of your neighborhood and community. Studies have shown that the social benefits of homeownership include boosted educational performance of children, higher rates of volunteerism, improved health as well as less crime.

2. Pride and Self-Expression - When you own your home, you can make your space uniquely yours. This leads to a greater sense of pride in home, an outlet for self-expression which all positively impacts well… you!

3. Security - Owning a home gives individuals a sense of security and privacy. Homeowners have a higher perceived control over their lives which leads to higher self-esteem and happiness rates than renters.

Financial Benefits

1. Forced Savings - Owning a home is financially savvy because each month your house payment helps you build equity. This form of forced savings can be used down the road to help you accomplish your financial goals as there are many ways to top into your home’s equity if you need to.

2. Appreciation - Your home is an investment that steadily gains value, and experts project home values will continue to rise in the years to come. Denver real estate appreciated 109.41% over the last ten years, which is an average annual home appreciation rate of 7.67%. This puts Denver in the top 10% nationally for real estate appreciation.

3. Stability - Owning a home means having better control over your future housing payments. Over the years, a mortgage stays relatively steady as rent continues to rise over time.

We would be remiss not to mention that homeownership is a privilege that has been largely attainable by some, but not by all due to discriminatory practices. We are committed to helping individuals attain homeownership. If you don't think you can, we are here to tell you you can! Live.Laugh. is ready to walk with you every step of the way!

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