I am often asked which is the right decision? You might guess that I would always suggest that if you can, you should buy, but do you know why I would recommend that? No, not because it will generate income for me or one of my sales reps, but because it is one of the best decisions you can make to help build your financial and mental health, and also help build stronger families.
I have outlined below a number of documented benefits of home ownership
• Homeowners report higher life satisfaction, higher self-esteem, happiness, and higher perceived control over their lives
• General positive outlook to life
• Increased charitable activity
• Greater awareness of the political process
• Greater attachment to the neighbourhood and neighbours.
• Higher student scores by children living in owned homes
• Higher rate of high school graduation thereby higher future earnings
• Children more likely to participate in organized activities and have less television screen time
• Better health outcomes, better physical and psychological health
• Wealth gains for homeowners under normal housing market conditions
• Less likely to be victims of crime
These are just a few of the benefits enjoyed as a result of home ownership. For more information on the study, click http://economistsoutlook.blogs.realtor.org/2012/03/27/social-benefits-of-homeownership-and-stable-housing/
I believe that owning a home makes people feel more a part of a community. Your family is involved in the local sports activities, or schools. A family has more feeling of permanency through home ownership.
If you are currently renting, and wonder whether home ownership is attainable, why not contact one of our sales professionals. They can help you with the details, and also connect you with a qualified financial advisor who can help you determine if you are financially ready, and if not, help you to start saving so that you too can enjoy home ownership.