Looking Back on Why We Bought a Home (Review of the 8 Reasons)

In September 2010, I published an article that outlined 8 reasons I “still” wanted to buy a home. With the housing market at the height of tanking in 2010, I needed a little convincing myself that what we were going after was still the right choice.

This past February 2013, two and a half years later, we finally made the leap to homeowner status. We’ve now owned a home for more than six months, so I recently thought to myself–do all those reasons still apply? Did my dreams become a reality?

Let’s review:

1. We saw moving as expensive, especially if done every year. That’s still the case, but if all goes according to plan, we will not be moving again for at least 15-20 years. That saves the cost of at least 5-10 moves in the same time period.
2. We also didn’t like the whole process of moving. It turns out that moving to a new home was the exception, because we knew it would be the last move for a while. It was one move that we couldn’t wait to take on.
3. We liked the idea of physical stability for the family. I’ve already seen some of this manifest in the way my kids talk about our home, and the new sense of pride and ownership they take on for their room, the play areas in the yard, etc.
4. We wanted the freedom to change the house as we saw fit. Before ever moving in, we had already painted the entire home, replaced the floors in two rooms, ripped out and replanted landscape, and added new millwork to the laundry room, just to name a few things. Now we’re dreaming about the next project, which could be a garage addition.
5. We liked the fact that noise would not be an issue. Since we live on a extra-large lot, the circumstances are even better to play the TV as loud as we want, have all the guests over we can handle, etc. without ever worrying about bothering the neighbors.
6. I wanted to work with my hands and build stuff, and boy, did I get my wish. This is probably the most enjoyable part of the house so far–the fact that I get to work on it inside and out with my own hands.
7. We wanted outside space to take advantage of our climate, plant a garden and have areas for play. With over two acres of land, I’d say we got our wish, although the vegetable garden failed in the heat and will have to wait for true “growing season” late this fall.
8. The financial benefits were last on my list, but they definitely apply. With a great interest rate and rock-bottom prices, there’s a lot of upside potential in this home in addition to the other benefits we’re already reaping. Home prices in our area are really coming back, some rising by 20-30% or more in the last 12 months.

All things considered, I’m glad we made the choice to buy a home and I think all the reasons we outlined in 2010 still apply. It’s been so much fun that I recently started another blog dedicated entirely to home ownership and making frugal choices in your home. It’s in its infancy, but I hope you check it out if you’re interested.

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