What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

Terri Gold

Find Your Perfect Home

Terri Gold

United Real Estate Solutions

Americans Find the Nonfinancial Benefits of Homeownership Most Valuable

May 03, 2021


Homeownership is a foundational part of the American Dream. As we look back on more than a year of sheltering in our homes, having a place of our own is more important than ever. While financial benefits are always a key aspect of homeownership, today, homeowners rank the nonfinancial and personal benefits with even higher value.

Recently, two national surveys revealed the reasons homeownership is such an important part of life. The top three personal benefits of homeownership noted by respondents in Unison’s 2021 report on The State of the American Homeowner are:

  • 91% – feel secure, stable, or successful owning a home
  • 70% – feel emotionally attached to the homes that have kept them safe over the past year
  • 51% – call homeownership a “key part of their life”

These sentiments were supported by the most recent National Housing Survey from Fannie Mae, which also shows that the top three reasons Americans value homeownership have nothing to do with money. Those surveyed were given a list of feelings and accomplishments that are associated with or impacted by where we live. They were then asked, “To achieve this, are you better off owning or better off renting?” Here are the top three points from the list that respondents said homeownership could help them achieve:

  • 91% – control over what you do with your living space
  • 90% – a sense of privacy and security
  • 89% – a good place for your family to raise your children

Other nonfinancial advantages of homeownership revealed by the survey include feeling engaged in a community, having flexibility in future decisions, and experiencing less stress.

Bottom Line

Financial and nonfinancial benefits are a key component to the value of homeownership, but the nonfinancial side is most valued after a year full of pandemic-driven challenges. Contact a real estate professional today if you’re ready to take the first steps toward becoming a homeowner.


Tags:

Featured Listings

sold
Gorgeous NEW CONSTRUCTION in the heart of Farragut! This upscale 2 story basement home features an open design with timeless style. Vaulted ceilings & Master on Main w/ walk-in shower, soaking tub, and his/hers WIC, 4 bedrooms w/ WIC plus bonus room..
$1,095,000
sold
4
beds
2
baths
3,427
Sq Ft
sold
A One of a Kind, Once in a Lifetime home. This hand hewn and self-built house is a work of art and a masterpiece of craftsmanship. Over 27 years, the builder, who was a Broadway and Clarence Brown Theater designer, handcrafted this hardwood Posts...
$560,000
sold
3
beds
2
baths
3,202
Sq Ft
sold
LISTING AGENT IS OWNER/SELLER Gorgeous Farragut brick home on Cul-De-Sac that overlooks the 14th fairway of the Fox Den Golf Course. AquaGuard flooring throughout the first floor. Separate staircase leads to the bonus room/5th bedroom...
$800,000
sold
4
beds
4
baths
3,270
Sq Ft
sold
Don't miss this opportunity to make this gorgeous two story basement, located in Farragut with an amazing open floor plan yours! Zoned for Farragut schools. Main level includes hardwood floors throughout, master bedroom with custom shelving...
$674,900
sold
3
beds
4
baths
2,773
Sq Ft

Recent Posts