Yesterday, I talked about the declining popularity of home ownership. Given all those reasons and the current economy, there are still many good reasons I want to own a home.
Here is the list:
- Moving frequently is incredibly expensive if you consider the direct and indirect costs (you have to outfit your new home, reconnect utilities, and of course–move, not to mention all the time invested in the experience).
- I don’t like to move. On my list of least favorite things to do, moving is up there. It’s just too exhausting and there are too many things to keep track of.
- A home provides a sense of physical stability for a family, a “home base” of sorts. That doesn’t mean kids who move a lot are worse off, but there’s something appealing to me about a place we can always return to.
- I have individual freedom to modify my home as I see fit. If our needs change, the house can change. If my wife wants the walls pink, the walls will be pink (after a few days of me arguing about it, of course).
- I don’t have to worry about being so noisy. If I want to exercise, my downstairs neighbor won’t break out the broomstick. And I can finally buy that drum set I’ve always wanted.
- I want to get my hands dirty. A lot of people shy away from working with their hands–I actually want to do it. I grew up building stuff, but there’s only so much you can do in your apartment living room.
- Outside space. I live in Florida, and I love the outdoors. A patio is great, but a back yard is so much better. I’m longing to plant a vegetable garden that will actually get sun all day long and bear fruit.
- Financial reasons. Last but not least, there are the financial reasons. They are secondary to me, because a house is a place to live and not an investment. Having said that, it does provide a kind of forced savings program and some protection of wealth (your house can’t be seized in Florida as a result of a lawsuit). Tax benefits and potential appreciation are last on my list, but a definite bonus.
You’ll notice #1 and #2 have to do with moving. Why move so much in the first place? Changing space needs, and better opportunities (pricing, incentives, etc.). You might be wondering if these will still apply when I buy a home. Well, price is going to be a given with a mortgage, and we plan to buy enough space to last us a good, long while. So I hope not…
Are you looking to buy a home anytime soon? What’s your driving reason? (Hint: Don’t say “because everyone thinks it’s a good time to buy!”).
Photo by mach3