Homeownership provides owners with many great benefits and feelings of pride. The benefits are plentiful, but there are a top few benefits that homeowners will get the reward of.
- Equity: Might seem obvious, but equity is one of the top benefits of homeownership. Paying rent year after year, tenants don’t get to see any return on their investment. With ownership, owners get to securely know that there money is going into an asset and that if they sell at the right time, they can profit. A home provides security for its owners in more than one way.
- Pride: When you own your own home, there is a sense of pride that comes along with it. Renters don’t always get too involved or attach to their homes, as they know that the changes they make in it, will eventually be of benefit to someone else. Owning your own home allows you to make changes, renos and choices that fit your lifestyle and that you get to enjoy. You do not have to answer to anyone when making decisions about your home.
- Stability: Homeowners can choose the terms of their mortgage allowing them to have a predictable monthly or bi-weekly payment. They can always find out how much is still owed on their home, and how much interest is being paid. With flexible mortgage options, homeowners can have a sense of stability in their payments and budget accordingly.
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