Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides.
Of course, there are financial reasons to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where you live.
Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride
Owning a home is associated with better mental health and wellbeing. Gary Acosta, CEO and Co-Founder at the National Association of Hispanic Real Estate Professionals (NAHREP), explains:
“Studies have shown the emotional and psychological benefits that homeownership has on a person’s health and self-esteem . . . ”
Similarly, Habitat for Humanity says:
“Residential stability among homeowners is related to improved life satisfaction, . . . along with better physical and mental health.”
So, according to the experts, owning a home can improve your psychological wellness by making you feel happier and more accomplished
Your home connects you to your community. Homeowners tend to stay in their homes longer than renters, and that can help you feel more connected to your community because you have more time to build meaningful relationships And, as Acosta says, when people stay in the same area for a longer period of time, it can lead to them being more involved:
“Homeowners also tend to be more active in their local communities . . . ”
After all, it makes sense that someone would want to help improve the area they’re going to be living in for a while.
Your home is a place that’s all yours. When you own it, unless there are specific homeowner’s association requirements, you’re free to customize it however you see fit. Whether that’s small home improvements or full-on renovations, your house can be exactly what you want and need it to be. As your tastes and lifestyle change, so can your home. As Investopedia tells us:
“One often-cited benefit of homeownership is the knowledge that you own your little corner of the world. You can customize your house, remodel, paint, and decorate without the need to get permission from a landlord.”
Renting can limit your ability to personalize your living space, and even if you do make changes, you may have to undo them before your lease ends. The ability homeownership gives you to customize and improve where you live creates a greater sense of ownership, pride, and connection with your home.
Owning your home can change your life in a way that gives you greater satisfaction and happiness...
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According to findings from Brown Jordan Outdoor Kitchens’ 2023 Outdoor Living Report, 75% of Americans who are in the market to buy a new home consider outdoor living spaces a must-have. As the trend of outdoor living has steadily grown, homeowners and designers alike are finding ways to incorporate bold color
“I’ve seen more clients focusing on elevating their outdoor spaces now than ever before. As my clients come to me for pops of color, that’s meant being able to play with elements like more vibrant outdoor furniture and adding bold accent colors, whether in cabinetry or décor,” designer Cara Woodhouse of Cara Woodhouse Interiors shares in the report.
Surveying over 2,000 Americans, in partnership with The Harris Poll, 69% see outdoor kitchens as an opportunity for different color selections compared with their interiors, and 77% embrace the opportunity to depart from more traditional options for their outdoor design. Hues of reds, blues, and even golds are on the forefront for outdoor kitchens.
While a large percentage see outdoor living areas as an option to get creative, 30% still prefer traditional styles compared with clean and contemporary at 21%; beachy or coastal at 18%; transitional at 15%; bold and modern at 12%; and other at 4%
Over half of respondents, 56%, cite their experiences at hotels or vacation home rentals as influences for an ideal outdoor living space at home, and many are looking to create an everyday escape. On the trend horizon are backyard bars with 40% expressing interest, and 45% note a preferred shift to more Zeninspired escapes.
Seven in 10 respondents say that if they’re investing in their home’s outdoor living space, it would be important to include or update an outdoor kitchen, and 63% say if they were to renovate their home, they would prioritize investing in an outdoor living space
As homeowners look to renovate especially younger respondents 18 to 44 there’s also a preference to use sustainable materials in home design, including the outdoors (75%). For smaller spaces like balconies, new outdoor-rate induction cooking can create a compact outdoor kitchen rather than expected seating spaces, the report notes
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