Wednesday, August 5, 2015

5 Surprise Benefits Of Owning Your Own Home

Stability, security, a place to call your own... There are a lot of benefits commonly associated with owning your own home at the Lake of the Ozarks. What first-time buyers may not realize, however, is that there are several other unexpected benefits from owning your own home that most people do not mention as frequently. If you're still on the fence about whether or not to buy a house at the Lake of the Ozarks, these unexpected perks may convince you!

Owning Your Own Home...

1. Makes You More Invested In Your Community
As a proud property owner, these individuals have more invested in their community and are more likely to contribute to its overall well-being. Homeowners are more likely to volunteer for local non-profit organizations, support charitable events, and support their local communities in any way they can - even if it's as simple as picking up trash at park. 

2. Forces You To Save Money
You have to make your monthly mortgage payment - no ifs, ands, or buts about it. Making your monthly mortgage payment has some major perks, though; not only does it secure your right to stay in the home, it also forces you to save money. While a portion of your payment goes towards interest and escrow, a piece of it goes towards your principle. Every dollar of principle you pay back is another dollar of the home that you actually own - which is, in essence, the same thing as putting money into an investment account.

3. Boosts Your Health
This may sound a bit odd, but some studies are showing a positive correlation between homeowners and better overall health. It appears that owning your own home instills a sense of confidence, well-being, and overall self-worth that can contribute to better health. Homeowners also typically have a stronger financial backing and are more likely to be able to afford medical care when they need it.

4. Raises Your Credit Score
Full disclosure: when you very first buy your house, you may see a slight decrease in your credit score as a result of taking out such a large line loan. However, as you make your mortgage payments and begin to make a dent in your principle, you should see a significant increase in your credit score. In fact, paying back a mortgage loan is one of the best ways to boost your credit score.

5. Sets Your Kids Up For Success
Study after study shows that children whose parents own their own home achieve greater success in school and their resulting careers than parents who rented homes or apartments. Some cited successes include greater likelihood of staying in school and ultimately graduating, as well as decreased risk of teenage pregnancy. The exact reasons for these correlations are unknown, but some people attribute the positive, successful characteristics of homeowner parents being passed down to their children.

6. Can Help You Make Money
If you own a second home at the Lake of the Ozarks, it's up to you what you want to do with that property when you're not there. The perk of having a second home in a vacation destination is that you can rent it as a vacation rental for travelers. We can manage your home at the Lake (vacation rental properties are one of our specialties). Give us a call at 877-452-5338 for details.

Eagle's Nest Realty Can Help Your Homeownership Dreams Come True!
Convinced? Why wait to enjoy all of these incredible benefits... If you are ready to start looking at homes for sale at the Lake of the Ozarks, give us a call! We would be more than happy to show you around!

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