What It Really Means To Be A Homeowner

Home Mortgage Info What It Really Means To Be A Homeowner

The American Dream

Owning your own home means more than making a mortgage payment each month. It’s the epitome of stability, security and building wealth. It’s putting down roots and becoming part of a community. While it’s a huge step emotionally and financially, it doesn’t come without rewards. Owning a home is truly the American Dream.

What does it really mean to be a homeowner?

  1. Freedom. Say goodbye to landlords and get ready to make your own rules. Owning your own home means you can live on your own terms. Go ahead and paint the walls, rip out a carpet, or get a large dog. There’s no one telling you that you can’t. Plus, no one can enter your property without permission anyway (like a landlord for inspection)! Go ahead and express yourself through interior design, whether simple or with flair – make it yours, because it is, in fact, yours!
  2. Security. Home is the place where most people say they feel most secure and safe. You have the freedom to secure it to your liking without anyone else’s permission.
  3. Tax Advantages. The US tax code allows many homeowners to deduct certain things like mortgage interest and real estate or property taxes. In the first few years of the mortgage, the majority of the payment goes towards interest anyway.
  4. Predictability. Unlike renting where the rent can increase, a mortgage has a stable, fixed payment from month to month that normally doesn’t fluctuate. You also build equity the longer you live there, giving you the opportunity to refinance and save money, shorten the term of the mortgage, or borrow money for life events and renovations.
  5. Building Wealth Through Equity. Along with the freedom of owning a home comes the ability to make home improvements to increase equity. As your home equity increases, so does your net worth. The more equity gained means the more wealth you acquire when selling your home down the line. According to Harvard University’s Joint Center for Housing Studies, the rate of return on a housing investment significantly increases the longer it is held.
  6. Putting down roots. Becoming a homeowner means integrating yourself into a community, and helping to make that community strong. You are claiming responsibility for your part of the world, giving you the stability of a consistent address with no fear of having to move from place to place. You can become a regular at local establishments, forge friendships with neighbors and get involved with local causes. If you have children, they will have a safe haven to call home, and can form friendships with other neighborhood kids that they will go to school with, likely for the whole time they are in school.

But more than anything, home is where the heart is. It’s where we bring home our babies, where we have Thanksgiving and Christmas dinners with the family, where we take prom photos on the lawn and build snowmen in the winter. It’s where we raise our children, where we celebrate in the good times and mourn in the bad times.  It’s the place you love to come home to and snuggle up on the couch in your PJs, watch the garden that you planted bloom, and where you have summer cookouts. It’s where you gather with family and friends and make memories. It’s home, and there’s nothing else in the world like it.


Are you ready to take the plunge? If you’re thinking about becoming a first-time homebuyer, check out this article: 7 First-Time Home Buyer Mistakes to Avoid


Are you a #HappyHomeowner? We’d love to hear about it! Tell us on social media or email pj@scmtg.net.

South County Mortgage is a licensed mortgage brokerage providing better than bank service and better than bank rates to Rhode Island residents for over 20 years. Visit our website for more info, www.scmtg.net.


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