The Benefits of Owning Your Home

The Benefits of Owning Your Home

The average price of a home sale in the United States has gone up leaps and bounds since our parents’ generation, with house values many multiples higher than the original purchase price leaving our generation in a tough position when it comes to buying houses for ourselves. The cost can be so overwhelming and staggering that many people in our generation are considering forgoing homeownership entirely, but this can have severe consequences, both financially and personally. Owning a home is not for everyone, but it may be right for you. Here are three benefits of owning your home rather than renting.

The Benefits of Owning Your Home: No More Rent Increases

The first benefit of owning your own home is knowing that you will never be subjected to another rent increase again. It is not uncommon for your landlord to raise your rent every year as the market rent increases with inflation. However, the legally allowed rent increase is higher than simply the cost of inflation. When you own your home, your mortgage payments will not change over the course of your loan, unless you have other circumstances. Knowing exactly what your housing costs will be and they won’t go up brings great peace of mind.

Build Equity

Another major benefit of owning your own home is the ability to build equity in your home and grow your wealth. Homeownership has been and still is one of the best ways for average people to grow huge amounts of wealth. Building equity in your home by paying off your mortgage will give you financial freedom as well, as you can borrow using your equity as collateral. You can get a loan equal to 85% of your home’s equity. Owning a home gives you these options to build ownership of an asset that will appreciate in value.

The Benefits of Owning Your Home: Your House, Your Rules

The final benefit of owning your own home is that since it is your home, you get to set the rules. No more asking landlords for approval for a pet or limiting the length of stay that a guest is allowed to stay with you. Owning your home also means that you are in control of maintenance and repairs, which can mean you get problems handled much faster than you are used to.

Homeownership may feel out of reach. But homeownership comes with so many benefits that the rising costs of homeownership shouldn’t deter you. Know these three benefits of homeownership and start looking for your first home today.

Read this next: How to Get a Home Packed With All the Features You Want

 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

 



 

$5,600,000
Single Family Home For Sale
Pending
5
BEDS
6
TOTAL BATHS
7,000
SQFT
3336 West Riverside Dr
Fort Myers, FL 33901
Riverside Subdivision
New Listing - a week online
$1,795,000
Land For Sale
Active
0.4175
ACRES
LEE
COUNTY
3508 Stuart Ct
Fort Myers, FL 33901
York Manor Subdivision
$5,800,000
Land For Sale
Active
1.3945
ACRES
LEE
COUNTY
1215 & 1233 Braman Ave
Fort Myers, FL 33901
Fort Myers Subdivision
$15,950,000
Single Family Home For Sale
Active
4
BEDS
9
TOTAL BATHS
10,033
SQFT
1240 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 2 weeks online
$890,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
3,467
SQFT
1249 Osceola Dr
Fort Myers, FL 33901
Riverside Subdivision
$750,000
Single Family Home For Sale
Pending With Contingencies
4
BEDS
2
TOTAL BATHS
2,173
SQFT
1250 Braman Ave
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$2,450,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
4
TOTAL BATHS
3,138
SQFT
1209 Coconut Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 2 weeks online
$1,595,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
3,848
SQFT
1266 Gasparilla Dr
Fort Myers, FL 33901
York Manor Subdivision
Price Change - 20 hours ago
$620,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,503
SQFT
1362 Braman Avenue
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$1,995,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,684
SQFT
3232 Mcgregor Blvd
Fort Myers, FL 33901
Riverside Subdivision
New Listing - 3 days online
$1,377,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,589
SQFT
1344 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
$475,000
Single Family Home For Sale
Pending
4
BEDS
2
TOTAL BATHS
2,542
SQFT
1377 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
Price Change - 3 days ago
$650,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
1,950
SQFT
1250 Sunbury Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision
$6,000,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
7,719
SQFT
2844 Valencia Way
Fort Myers, FL 33901
Lynns Add Subdivision
New Listing - 8 hours online
$989,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,829
SQFT
1388 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
Price Change - 2 weeks ago
$499,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
1,784
SQFT
1414 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 3 weeks online
$5,900,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
5,093
SQFT
3914 W Riverside Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 4 weeks online
$3,500,000
Single Family Home For Sale
Pending With Contingencies
5
BEDS
6
TOTAL BATHS
3,470
SQFT
3954 W Riverside Dr
Fort Myers, FL 33901
Seminole Estates Subdivision
Price Change - a week ago
$485,000
Single Family Home For Sale
Active
2
BEDS
2
TOTAL BATHS
1,468
SQFT
1385 Burtwood Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision

 

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