June was National Homeownership Month and to celebrate we’ve compiled a list of not-so-common reasons you should own your own home. National Homeownership Month actually started out as a week-long celebration while Clinton was President, however George W. Bush upped the ante and declared it something worth celebrating for an entire month during his presidency. Here are a few reasons that you, too, should consider owning your own home.
If you currently live in an apartment or townhouse, you’ll appreciate this reason for owning: more living space to move around. Especially if you have a family or small children, you’ll understand that there can never be enough space for all the things a family needs in their home. Owning your own home gives you the chance to have plenty of room and not feel cramped within your living space.
Want to hang a picture wherever you please or paint your walls red? Owning a home also gives you the opportunity to decorate however you’d like. Many landlords place stipulations on their rental properties with regards to what can and can’t be hung on the walls, whether or not you can paint and what kind of landscaping you can have. By owning your own home you’re able to freely express yourself through your home’s decorations.
Another major reason many people decide to purchase a home is so they can have a pet. Tenants with animals often find their rental options limited because many landlords and leasing companies don’t want to deal with animals; if an apartment or rental property does allow pets there’s usually a hefty deposit as well as a monthly fee added into your rent. If you have a pet that you consider family, owning a home allows you to provide them with plenty of indoor and outdoor space without being restricted by your rental agreement.
And, financially speaking, owning a home allows you to start building your family wealth by building equity in your home and owning a piece of property. Owning a home is the most lucrative long term investment for all age ranges when compared to stocks and mutual funds.
Do you want to be a participant when it’s National Homeownership Month next year? Take all of these factors, plus many more, into consideration and think about purchasing a home for your family today.