5 Reasons Why Owning a Home Is Just Better

Are you still renting? Do you have dreams of moving on to bigger and better things? Well, now is the time to start benefiting from homeownership! If you think buying a home is beyond your budget, whether due to higher interest rates or making the down payment, you may be in for a pleasant surprise. Your monthly rent payment could be financing your dream home instead!  

Now, you may be asking yourself, what kinds of things come with my “dream home” that I can’t get as a renter? Well, a lot! In honor of National Homeownership Month, we’ve narrowed down a list of five reasons owning a home is just better than renting.  

1. Decorate How YOU Want  

Owning a home you can call your own means you won’t need to worry about those pesky leases or overbearing landlord rules anymore. There’s nothing to stop you from decorating your new pad to your heart’s desire. Maybe you want to accentuate your place with this year's latest, greatest, and cutting-edge home décor trends. Or perhaps you nerd out for all things tech. If that’s the case, you probably can’t wait to level up your home with every new smart device and energy-efficient appliance on the market. No matter how you decide to decorate from room to room, your home is a haven that can easily match your sense of taste and lifestyle.  

2. Pets Galore 

Woof woof. 

What’s that, Lassie? Little Timmy fell down the well again?  

Woof woof. 

Oh, I misunderstood! You’re 100% correct! Pet ownership is another reason homeownership is just better than renting. Adopting a furry, or not-so-furry, friend into your family is a breeze when you’re a homeowner. Much like choosing the décor, pets are another aspect of homeownership entirely up to your discretion, which isn't always the case for a renter. You’ll have an entire house and yard that your new pet can run around and enjoy. The only problem will be deciding when one pet is too many pets.  

The power of pets is real, and homeownership is your ticket to “critter cloud nine.” (Thanks, Lassie!)  

3. Explore Every (Reading) Nook and Cranny  

Let’s be honest: owning a home – typically – offers more space to stretch your legs and provide your furniture with room to breathe than renting does. Of course, having all that open real estate isn’t perfect (cluttering can be an issue), but converting open spaces to fit your unique needs is a major advantage for homeowners. Sure, you could use those wide-open spaces to store more of your personal belongings, but where’s the fun in that? You could also build your own reading nook! 

Reading nooks are easy-to-make, inexpensive, and provide a place to relax in your favorite corner of your home with your favorite authors. To create the perfect reading nook, you only need to locate an unused and quiet space inside your home, brighten it up with natural or artificial light, and set down a cushioned throne for a comfortable reading experience. It’s that easy! 

4. Lawn With Care 

If you’re a renter with dreams of becoming a homeowner one day, we can confirm that the grass might be greener on the other side. Literally.  

Your front lawn and backyard are two more advantages homeowners have over their renter counterparts. A healthy and maintained lawn is, in many ways, an extension of your home. You can maximize your space by setting up a hammock, building a fire pit for a summertime kitchen, or even – and this is a big one – installing a pool. Who wouldn't want to spend their summer resting and recuperating in the great outdoors? Well, your very own lawn and backyard mean you won’t need to travel far to become one with nature.  

Healthy lawns are great for the environment too. Well-kept grass creates oxygen, traps dust and dirt particles, and creates a natural cooling effect on hot summer days. But they’re also a fantastic and safe play area for kids and pets and might even improve your home’s curb appeal once it comes time to sell.

5. Welcome to the Neighborhood 

One of the biggest advantages homeownership has over renting is that irreplicable sense of community. Everyone in the neighborhood shares two common goals: leading the best life possible and making that locale safe and family-friendly.

As a new homeowner, you’ll likely want to race out into your new community to see all the fresh faces and explore everything your new neighborhood has to offer. Whenever you eventually make this excursion, keep an eye out for all the potential ways you and your family can get involved in the community right away. Seeking out volunteer organizations and social hot spots are two surefire avenues for ingraining yourself in a new area.  

Homeownership is Within Reach 

Okay, we might be just a tad biased, but owning a home is truly an amazing opportunity to build wealth for yourself and your family for many years to come, so we hope the reasons mentioned above have been helpful. Maybe even helpful enough to make the jump to homeownership!  

Reach out today to learn how to start your homebuying journey with a pre-approval, or stick around the Knowledge Center to learn more about the first hurdle to homeownership – the down payment.