Home Is Where the Heart Is More than Ever This Year

There's no denying the monetary advantages from getting homeownership, however what's regularly neglected are the sensations of appreciation, security, pride, and solace we get from claiming a home. This year, those feelings are more grounded than at any other time. We've survived a period that has genuinely changed our necessities and what our identity is, and accordingly, homeownership has an entirely different importance for large numbers of us.

According to the 2021 State of the American Homeowner report by Unison:

“Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.”

As a country, we keep on dealing with the difficulties of a pandemic that is pushed us all as far as possible. Over the previous 18 months, we've invested more energy than any time in recent memory at home: working, eating, tutoring, working out, and that's only the tip of the iceberg. Our general surroundings changed practically for the time being, and our homes were reclassified. Our necessities moved, and our asylums turned into a spot that ensured us on an unheard of level. A similar report from Unison notes:

• 91% of homeowners say they feel secure, stable, or successful owning a home
• 64% of American homeowners say living through a pandemic has made their home more important to them than ever
• 83% of homeowners say their home has kept them safe during the COVID-19 pandemic

It’s no surprise this study also reveals that homeowners are now more emotionally attached to their homes as well:As we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the financial aspect of owning a home. As JD Esajian, President of CT Homes, LLC, says:

“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”

Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:

“Buying a home is not just a financial decision. It's also a lifestyle decision.”

Bottom Line

If you’re considering buying a home, it’s not entirely about the dollars and cents. Don’t forget to weigh the non-financial benefits that may truly change your life when you need them most.