Homeownership Mood-Boost
Once upon a time owning a home was a quintessential part of the American Dream. Today life is constantly changing, and freedom, flexibility and affordability are common reasons folks choose to rent instead of make this big life purchase. Let’s look at some of the real mental health benefits that come with taking the plunge into homeownership.
- Increased confidence. Owning a home provides a major boost in confidence, because it’s the result of achieving a significant life goal and a sign of personal growth.
- Stability. Living in a state of uncertainty or flux can cause stress. Purchasing a home is a long-term commitment that usually comes with the sense that your roots are firmly planted. With a fixed mortgage, it’s also easier to budget based on a consistent monthly payment that won’t change, no matter what happens in the marketplace and with inflation.
- Sense of community. People crave a sense of belonging, and living in the same place for a long time allows for the development of deep and lasting relationships with others nearby.
- Family support. Whether you already have a family or plan to grow one, owning a home can offer access to specific educational and extra-curricular resources that are important to your loved ones.
- Increased wealth. “Homeownership is the number one way to build wealth in America,” according to the deputy chief and vice president of the National Association of Realtors, Jessica Lautz. Financial stability eases stress and offers opportunities for personal growth, which greatly impact a person’s sense of well-being.
- Sense of independence. That’s right. Having your own home means you call the shots on everything from paint colors to furnishings to furry friends. Having the freedom to make your own choices and live comfortably in your home has a lasting impact on mental health.
While many have concerns about the purchase process, working with a lender that is knowledgeable, experienced and efficient can erase perceived obstacles. Not only are our lenders all that and more, but our team’s in-house processing and quick turn times have earned us consistently high customer satisfaction ratings. That’s a boost for all of our moods.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All loans are subject to loan guidelines and approval.