What Does Buying a Home Mean to You
Your home is more than a physical address. It’s where your family and friends gather—your haven or escape from the world.
The meaning of home varies depending on who you speak with. But most people will agree that home is a safe, secure and stable place. So if you’re buying a home, you likely seek a place to fulfill these wants.
According to a recent survey by the Joint Center for Housing Studies at Harvard University, here are five of the top reasons for owning a home.
1. “A good place to raise children and provide them with a good education.”
If you don't have children, you might give little thought to nearby schools. But if you are a parent, you recognize the importance of a quality education, and you’ll do everything in your power to give your child an academic edge. Consequently, you might review local school ratings before house-hunting, and then focus your home search in districts with the highest ratings.
2. “You have a physical structure where you and your family feel safe”
There's no better feeling than the safety and security of your house. It’s harder to feel comfortable in a home when you question the safety of a neighborhood. Of course, crime can happen anywhere. Even so, purchasing in a low-crime area lowers the risk of being a victim.
3. “It allows you to have more space for your family.”
As your family grows, so does your need for additional square footage. If your current house doesn’t have adequate space to accommodate everyone, moving can provide extra room and a higher level of comfort.
4. “It gives you control over what you do with your living space, like renovations and updates.”
When you're a renter living in someone else's house, you have limited control over decorating. Your landlord may not allow certain wall colors or other changes to the property. Owning, on the other hand, gives you freedom to personalize and make a space your own.
5. “Owning a home is a good way to build up wealth that can be passed along to my family.”
Renting is convenient because there's the freedom to move and you don't have to spend money on major home repairs. However, rent payments do not build equity. Your home is your biggest investment—a vehicle for creating wealth that can be passed down to your children.
If you are ready to experience the financial rewards of owning a home, let us help you explore your mortgage options and make your dream a reality. Cherry Creek Mortgage has affordable living solutions whether you're a first-time home buyer or a repeat buyer. Learn how to apply for a home loan today.