Becoming a homeowner is often a symbol of “big-time adulting” but also a highly beneficial financial decision. Since it offers so many benefits, the dream of a new house is quite common.
But why exactly does everyone dream of buying a new house? Since civilization began, people have needed a place to live. Shelter against the elements, a safe place to raise a family and enjoy hobbies, and much more. But in the 21st century, a home is so much more than a shelter. It is part of the American dream – and of the most reliable ways for everyday people to build generational wealth for themselves and family members.
Real estate is a powerful gateway to unlocking financial opportunities through equity and obtaining a stable and customizable home. Let’s dive into the details of “why” homes are beneficial and how you can prepare yourself for this significant milestone.
Why does everyone dream of buying a house?
Tl;dr: People dream of buying a house because of the overwhelming lifestyle benefits.
Getting a first home is often seen as a milestone that marks success and stability. Whether it’s an old house or a new construction home, it’s a major accomplishment. First-time buyers taste the benefits of homeownership in various ways: from the homeowner tax breaks to the rise of home value over time that builds equity. Homebuyers also dream about the memories they will make in their forever, planting roots with their loved ones. These are just some of the benefits of getting your dream home— what are the others?
The Benefits of Buying a House
Curious about the benefits of buying a house? Here is a short list of the top reasons why people want their own home:
- You pay your own mortgage, not someone else’s.
- Every payment goes toward your home equity — widening the gap between your home price and what you owe.
- There are no leases to sign— just one sales contract, then the property is yours as long as you pay your mortgage or sell it.
- There are no more rent increases to deal with.
- Mortgage payments are locked in and stay low even with inflation and the rising cost of living
- No security or pet deposits!
- Freedom to remodel the interior to your taste.
- There is no need to renew a lease or wonder if your landlord will sell the property you’re renting.
- Homes with yards are great for a variety of outdoor activities like gardening and setting up an outdoor living paradise!
- Establish a legacy for you and your loved ones.
Buy a New Home With Marketplace Homes
Shopping for a new home can be an overwhelming experience for a first-time buyer. There are many considerations, like calculating the right down payment, fixing your credit score, whether you want an open floor plan or a separate dining room and living room, and much more.
Working with a licensed real estate agent will help you a lot with your home search and give you the best negotiating power when making an offer. You can also get advice on what house prices to look for while considering current interest rates.
Alicia Persson is the the real estate content writer for Marketplace Homes. She has several years of experience working in real estate teams that specialized in investments and property management. Before she joined MH, she was a freelance writer for 7 years, providing real estate and home living content for boutique digital marketing agencies.
She is a proud University of Virginia Masters graduate and enjoyed her undergraduate years at the University of Mary Washington. When she is not writing, she is playing keyboard in a local 90’s band in central Virginia or spending time with her amazing family.