We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful ones.

The idea and feeling of a home can mean different things to different people. Whether it’s the scent of a new car or a favorite t-shirt, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers you the stability

Choosing between the best neighborhoods and the best school districts, even buyers without children at the time of purchase may have these things in mind as major reasons for choosing the locations of the homes that they purchase. Good school districts are typically more desirable and have a better resale value.

Owning a home often imparts a sense of permanence, stability and a sense of community. That stable environment can be emotionally satisfying.

2. There’s no place like home

When you buy a home, you may have certain tax advantages and can provide financial stability and security over the long-term. Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit in your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t do just that in your own home?

Bottom Line
A study from the US Department of Housing and Urban Development says just that: “Homeowners accumulate wealth as the investment in their homes grows, enjoy better living conditions, are often more involved in their communities, and have children who tend on average to do better in school and are less likely to become involved with crime. Communities benefit from real estate taxes homeowners pay, and from stable neighborhoods homeowners create.”

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.  Start with education – it is too costly to purchase a home without the knowledge about the steps. Sign-up and learn!