Real Estate Column: A Home Is a Home First
Premiere Property Group, LLC writes a monthly real estate advice column for Sherwood
By Jeff Wiren, Principal Broker, Premiere Property Group, LLC for the Sherwood Sun
SHERWOOD, Ore. — I regularly discuss the value of homeownership with clients, and of course, the conversation naturally turns to appreciation, equity, tax advantages, and financial stability. However, I believe the truly motivating factors for most buyers are none of these things. They're the intangible benefits of homeownership that you simply can't put a price tag on. As Thanksgiving approaches and we prepare to settle into our homes with our families this winter, I thought it would be nice to reflect on a few of those intangibles.
A home is a place to create memories. Annual holiday gatherings, birthday parties, walking through the front door for the first time as a married couple, and bringing home your first child, just to name a few. I remember how difficult it was when my wife and I sold the home where our kids grew up. Every nick in the wall had a story, and that swing set in the backyard was especially hard to leave behind. Our homes become the places where we hang our memories. I can still remember my childhood home, and I'm sure many of you can remember yours.
A home is a place of stability and security. Everyone has a tough day from time to time, and sometimes our confidence gets shaken. Maybe you've lost a job or failed a test. Whatever the challenge, being able to come home, enjoy a warm meal, and share a peaceful moment with your family can help put things back into perspective.
A home is a place to put down roots and become part of a community. Research has found that children growing up in owner-occupied homes often experience better educational outcomes, although many factors contribute to those differences. Perhaps even more important is the stability that homeownership can provide. Staying in one place allows children to develop lasting friendships, maintain relationships with teachers, and feel connected to their communities. That sense of belonging can have a meaningful impact on a child's emotional well-being.
A home that you own gives you the opportunity to make it your own. Don't like the kitchen cabinets? No problem, paint them! Want to add a fire pit in the backyard where friends and family can gather? Go for it! The freedom to personalize your surroundings and create a space that reflects your personality is something we often take for granted.
Of course, many of these experiences can be enjoyed in a rented home as well. But homeownership offers something additional: greater control over your surroundings and the opportunity to establish roots for years, or even generations.
In today's economic climate, I hear from many buyers about how challenging purchasing a home has become, and some younger buyers are questioning whether homeownership is worth pursuing.
When I was a new agent, I remember one of the old guys in the office telling me, "A home is a home first and an investment second." Those words ring true now more than ever.
As you prepare to celebrate Thanksgiving with your family, I hope you'll take a moment to reflect on the wonderful memories you've created in your home and offer a prayer of thanksgiving for the many blessings in your life.
Happy Thanksgiving!
The Sherwood Sun
