One of the questions that many homebuyers will think when they buy their first home is, "why do people buy houses?" There are a lot of reasons, but here are five of the biggest reasons:
- A nest egg - As you pay off a home, you're putting away money. Your equity is the biggest savings account most people have. Buying a home lets you invest in something that is real and will last.
- Control - You can do what you want with your home. If you want black walls, you don't have to ask permission. The control that owning a home gives you can make it much easier for you to have more control over your life.
- Stability - Homeownership allows you to have some stability in your life. Landlords can be fickle and you might find yourself moving when you don't want to. When you own your own home, you know exactly where you'll be sleeping every night.
- Space - You can't put an addition onto an apartment, but with a house, you can expand it if you want to.
- Major improvements - You can't just install an in-ground pool in an apartment complex. If you own your own home, you can add a pool, put on a carport, or even tear it all down and start again.
There's a sixth important reason: PRIDE. Owning your home can be a source of pride for you. It's yours, all yours, and you can smile when you tell people that you have it all to yourself.
Everyone has their own special mix of reasons for owning a home. There are reasons not listed here, like wanting to have a dog or wanting a garden. All of them are valid reasons.
One thing is sure: whatever your reasons are, they are yours and they are great reasons.