Want to know EXACTLY how much home you can afford?

THE EMOTIONAL AND LIFESTYLE PERKS OF HOMEOWNERSHIP

Richard Cunningham • July 22, 2024

With all the headlines and talk about housing affordability, it's easy to get caught up in the financial aspects of buying a home. Thinking about the dollars and cents is natural, but it's important not to lose sight of why homeownership is a significant goal for many people. As the National Association of Realtors (NAR) says:

"The benefits of purchasing and owning your place of residence are both financial and emotional – pride in homeownership and the feeling of security are huge intangible benefits."

Here's a look at a few emotional and lifestyle perks of owning a home, which can help remind you why homeownership is one of your goals.

A Sense of Satisfaction

Owning a home is often linked to better mental health and overall well-being. Buying a home is a significant milestone, and the sense of satisfaction and pride that comes with achieving that goal is incredibly rewarding. A recent article from Mortgage Reports highlights this:

"By and large, homeownership brings more satisfaction than renting. . . Surveyees scored the overall happiness level of homeowners at 88% compared to 67% for renters."

The accomplishment of purchasing a home provides a lasting sense of achievement and personal fulfillment.

More Stability for Your Family

Homeownership also offers greater stability for you and your family. Moving frequently due to lease renewals and rent increases can be stressful. Owning a home allows you to put down roots and enjoy the predictability of staying in one place. This stability can significantly benefit your loved ones as well.

NAR explains:

"Families also benefit from homeownership, with studies proving that parents are able to spend less time in a stressed state, therefore spending more time with their children. The ability for parents to feel stable has a huge impact on children’s behavioral issues, educational success, and future economic success."

Stability in your living situation allows for stronger family bonds and a more secure environment for children.

A Stronger Feeling of Community

Homeownership can also foster a stronger sense of community. According to FinHabits:

"Homeowners tend to be more involved in their local communities, leading to a stronger sense of belonging . . ."

When you own a home, you become more connected to your neighborhood and the broader community. Having a stake in the community’s future naturally leads to more involvement and a desire to contribute positively. Building long-term relationships with neighbors and participating in local activities enhances your sense of belonging.

The Ability To Make the Space Your Own

One of the most significant perks of homeownership is the freedom to make your space truly your own. Unlike renting, owning a home means you can customize and renovate according to your preferences, as long as you comply with any homeowner’s association requirements.

If renting has been limiting your ability to express your style, homeownership allows you to create a living space that reflects your personality and needs. Whether it's small home improvements or major renovations, your house can evolve with your tastes and lifestyle. Imagine coming home to a place that feels uniquely yours—it's a feeling like no other.

Bottom Line

If you aspire to enjoy a sense of accomplishment and pride in your living situation, consider the emotional and lifestyle benefits of homeownership. Connect with a real estate agent to discuss what steps you need to take to make this future a reality for you. Homeownership is more than a financial transaction; it's a path to personal fulfillment and community connection.

Latest News

By Richard Cunningham November 13, 2024
Thanksgiving is a cherished holiday in the United States, steeped in tradition, gratitude, and festive gatherings. This vibrant celebration offers a wonderful opportunity to come together with loved ones, reflect on what we are thankful for, and indulge in a sumptuous feast. As you prepare to celebrate this season, let's explore how to infuse your Thanksgiving with a touch of luxury, making it a truly unforgettable experience. 1. Crafting a Lavish Feast At the heart of Thanksgiving is the meal—a magnificent spread that showcases the bounty of the season. Here are some essential dishes to consider: Exquisite Turkey The centerpiece of any Thanksgiving feast is undoubtedly the turkey. Opt for a high-quality bird, and consider methods like brining or herb-infusing for extra flavor. For an elevated touch, try a unique stuffing that incorporates gourmet ingredients like wild rice, cranberries, and truffle oil. Decadent Side Dishes Side dishes can elevate your meal to new heights. Think creamy mashed potatoes enriched with butter and garlic or a vibrant roasted vegetable medley drizzled with balsamic glaze. Include classic favorites like green bean casserole, but give them a twist by adding crispy shallots or gourmet cheese. Indulgent Desserts No Thanksgiving is complete without dessert. While pumpkin pie is a staple, consider offering a selection of luxurious options, such as a chocolate tart, pecan pie, or a seasonal fruit galette. Serve them with freshly whipped cream or a scoop of artisanal ice cream for a decadent finish. 2. Creating an Elegant Table Setting Your dining table is the centerpiece of the Thanksgiving experience. Transform it into a luxurious setting that reflects the warmth of the season: Sophisticated Tableware Invest in quality tableware that exudes elegance. Fine china, crystal glassware, and polished silverware can create a refined atmosphere. If you don’t own these items, renting can be a great option for a special occasion. Stunning Centerpieces A captivating centerpiece can tie your table decor together. Consider a floral arrangement with seasonal blooms like sunflowers, autumn leaves, or elegant candles for a soft glow. You can also use rustic elements like pumpkins and gourds to create a warm, inviting vibe. Luxurious Linens Choose table linens that complement your overall theme. A crisp, white tablecloth paired with richly colored napkins can add sophistication. Consider embroidered details or patterns that reflect the season for an extra touch of elegance. 3. Incorporating Thanksgiving Traditions Thanksgiving is filled with rich traditions that can enhance your celebration. Here are a few to embrace: Expressing Gratitude Before the feast begins, invite your guests to share what they’re thankful for. This heartfelt moment can create a sense of connection and warmth, reminding everyone of the holiday’s true spirit. Family Activities After the meal, engage in activities that foster togetherness. Whether it’s playing board games, going for a family walk, or watching a classic holiday movie, these moments will create lasting memories. Participating in Local Events Many communities host events such as parades, charity runs, or festivals around Thanksgiving. Check local listings to find activities that you and your family can enjoy together. 4. Sourcing Ingredients and Wines To elevate your Thanksgiving dinner, consider sourcing high-quality ingredients and pairing your meal with exquisite wines: Local Farmers' Markets Visit local farmers’ markets to find fresh, seasonal produce. Supporting local vendors not only enhances your meal but also connects you to the community. Fine Wines Pairing your meal with fine wines can enhance the dining experience. Consider consulting a sommelier or doing some research on which wines complement your menu. A crisp Chardonnay pairs beautifully with turkey, while a robust Pinot Noir can complement richer side dishes. 5. Final Touches for an Unforgettable Experience As you prepare for your Thanksgiving celebration, remember that it’s the little details that can make a big impact: Music and Ambiance Create a playlist that sets the mood for your gathering. Consider soft jazz or classical music to provide a sophisticated background to your meal. Personal Touches Adding personal touches, such as place cards or small favors for your guests, can enhance the overall experience. This thoughtful gesture will show your guests how much you value their presence. Conclusion: Celebrate with Gratitude and Joy Thanksgiving is a beautiful time to celebrate with family and friends, embracing the spirit of gratitude and togetherness. By infusing your festivities with luxurious touches—from the meal to the ambiance—you can create a memorable experience that honors the holiday’s rich traditions. As you gather around the table, take a moment to reflect on the blessings in your life and enjoy the warmth of connection that this special day brings. As you navigate your Thanksgiving preparations, remember that the essence of the holiday lies in the love and appreciation we share. Happy Thanksgiving! Source: https://www.ef.com/wwen/blog/language/celebrate-first-thanksgiving-us/
By Richard Cunningham November 13, 2024
When it comes to selling your home, grasping the financial implications is essential. Many homeowners often overlook the various costs associated with selling their property, which can accumulate quickly and affect overall profits. If you’re planning to sell soon, being informed about these expenses is crucial. Here’s a breakdown of the key costs involved in selling a house: 1. Closing Costs Sellers typically cover various fees during the closing process, which may include title insurance, escrow fees, and transfer taxes. These costs generally range from 1% to 3% of the home’s sale price. It’s important to discuss these potential expenses with your real estate agent to ensure you're fully prepared. 2. Home Repairs and Improvements Before listing a home, many homeowners choose to invest in repairs or renovations to enhance its appeal to potential buyers. Whether it's minor cosmetic updates like painting and landscaping or more extensive renovations such as kitchen or bathroom remodels, these expenses can vary significantly. On average, homeowners might spend between $1,000 to $5,000 or more, depending on the home's condition and market expectations. 3. Staging Costs Staging a home can help it sell faster and potentially at a higher price. This may involve renting furniture, hiring a professional stager, or even taking a DIY approach to enhance the property’s visual appeal. Staging costs typically range from $500 to $2,000 , but this investment can lead to a quicker sale and a better offer. 4. Pre-Inspection Fees Consider obtaining a pre-inspection before listing the home. This proactive measure can identify potential issues that might deter buyers. The cost for a pre-inspection usually falls between $300 to $500 , but addressing concerns upfront can save you from costly negotiations later on. 5. Utilities and Maintenance While the home is on the market, ongoing responsibilities for utilities, maintenance, and property taxes remain. These costs can accumulate during the selling process, especially if the property sits on the market for an extended period. Budgeting for these expenses helps avoid financial strain. 6. Moving Expenses Finally, it's essential to factor in the cost of moving. This includes hiring movers, renting a truck, or purchasing packing supplies. Depending on the size of the home and the distance of the move, these costs can range from $1,000 to $3,000 or more. How We Can Help As experienced real estate professionals, we guide you through each step of the selling process, ensuring you’re fully informed about potential costs and how to mitigate them. We offer the following support: Pricing Your Home Competitively: Through comprehensive market analysis, we help set a price that attracts buyers while ensuring you receive a fair return. Suggesting Strategic Improvements: We provide advice on cost-effective repairs and improvements that can significantly enhance the home’s appeal without excessive spending. Connecting You with Trusted Professionals: From contractors for repairs to staging experts, we have a network of professionals ready to assist you in making your home market-ready. Navigating the Closing Process: We assist in understanding and managing the closing costs and procedures, ensuring there are no surprises along the way. Offering Support with Moving Logistics: We can recommend reliable moving companies and help coordinate logistics to make your transition as smooth as possible. By keeping these expenses in mind and leveraging our expertise, you can make informed decisions that will ultimately lead to a successful sale. Source: https://www.keepingcurrentmatters.com/2024/10/10/how-much-does-it-cost-to-sell-my-house/
By Richard Cunningham October 10, 2024
Off The Hook Seafood Festival: Celebrating the Best of the Sea at the Santa Monica Pier | October 13 https://allevents.in/santa%20monica/off-the-hook-seafood-festival-returns-to-the-santa-monica-pier-on-sunday-october-13-2024/80001462950890 The Off The Hook Seafood Festival returns to the Santa Monica Pier on Sunday, October 13, 2024. This highly anticipated event celebrates the ocean's bounty with a fantastic array of seafood tastings, beer and wine gardens, live music, and plenty of entertainment. Local favorites such as Blue Plate Oysterette, The Lobster, and Sushi Roku will showcase their finest seafood dishes. Attendees can also enjoy oyster-shucking competitions and rides on the iconic Ferris Wheel. Knott’s Scary Farm | September 19 - November 2 https://www.fangoria.com/knotts-scary-farm-2024-new-mazes-elvira-retur ns/ Knott’s Scary Farm is Southern California’s longest-running and most terrifying Halloween event, celebrating over five decades of spine-chilling scares and groundbreaking horror experiences. The entire theme park transforms into a haunted playground, featuring eerie mazes, immersive attractions, sinister shows, and more than 1,000 monsters lurking in the shadows. This year, two new terrifying mazes will debut. The event runs from September 19 through November 2, 2024, offering thrills and chills for those brave enough to attend. Halloween Spooktacular & Trunk or Treat 2024: A Family-Friendly Halloween Bash | October 26 https://www.newportbeachca.gov/Home/Components/Calendar/Event/75429/72?curm=10&cury=2024 Join the 7th Annual Halloween Spooktacular at Mariners Park on October 26, 2024! This free community event features music, trunk-or-treating, a haunted walkthrough, carnival games, bounce houses, and costume contests for all ages, including categories like Spookiest costume and best superhero. Bring pets in costume too! Food trucks will be on-site offering tasty treats. Located at Mariners Park & VJ Community Center, 1300 Irvine Ave., Newport Beach, CA 92660. Limited parking; walking and biking are encouraged.
Show all
Share by: