Discover the non-financial benefits of having your own home—including more peace of mind.

The decision to buy a home is unlike any other purchase. Yes, there are financial benefits—like the opportunity to build equity—but there are many non-financial benefits of homeownership too. Benefits that you can’t assign a dollar figure to but are invaluable to many people.

A place of your own

Any renter can tell you one of the key benefits of owning your own place: you can do things without the restrictions of a lease. You can decorate as you please. Grow a garden. Invite guests over without concern for a limit on the number of days they stay.  And, anything you do to improve the home belongs to you.

A place you own offers much more freedom to customize the home and use it as you please.

The opportunity to put down roots

Investing in a home is investing in a community. Whether you’re starting a family or enjoying retirement, homeowners often experience more ways to engage with their community.

Homeowners have many opportunities to support local businesses over time and get to know the shopkeepers. As kids progress through school they build relationships with other parents as well as teachers. And, homeowners frequently deepen their community involvement through volunteer work and participating in local government.

More peace of mind

Of course, a home has a market value. However, whether the market swings up or down, you know what your mortgage payment is. You won’t face the kind of housing increases that often come with renting. In 2023, Michigan saw some of the biggest increases: a 13.89% jump in rent prices. Owning your own home brings the peace of mind that comes with stable housing costs.

Ready to buy?

If the financial benefits of homeownership along with the non-financial ones have you seeking a home, talk to one of our Mortgage Loan Officers about a mortgage that can help you get the home you desire.

 

All loans subject to approval. Rates, terms, and conditions are subject to change and may vary based on credit worthiness, qualifications, and collateral conditions.