There’s no denying the financial benefits of homeownership, but the feelings of gratitude, security, pride, and comfort we get from owning a home are often overlooked. This year, those emotions are stronger than ever.
We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us.
According to the 2021 State of the American Homeowner report by Unison:
“Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.”
As a nation, we continue to work through the challenges of a pandemic that’s pushed us all to new limits.
Over the past year and a half, we’ve spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, and our homes were redefined.
Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:
- 91% of homeowners say they feel secure, stable, or successful owning a home
- 64% of American homeowners say living through a pandemic has made their home more important to them than ever
- 83% of homeowners say their home has kept them safe during the COVID-19 pandemic
It’s no surprise that this study also reveals that homeowners are now more emotionally attached to their homes as well. Check out this graph.
As we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty.
That sense of connection and emotional stability reaches beyond just the financial aspect of owning a home, touching the heart of what makes a house truly feel like home.
As JD Esajian, President of CT Homes, LLC, says:
“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”
Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:
“Buying a home is not just a financial decision. It’s also a lifestyle decision.”
Ready to Experience the True Value of Home?
If you’re considering buying a home in Chicago, remember—it’s not just about dollars and cents. Think about the non-financial benefits: stability, comfort, and the support of a well-managed community.
Did you know? Many homes and condos are part of Homeowners Associations (HOAs), which help maintain amenities, enhance property value, and create a sense of neighborhood connection. If you’re curious about HOA rules or want to learn about HOA management companies in Chicago, read more here or ask our team!
Contact Chicago’s top-rated real estate team today to schedule your free consultation and discover what home could mean for you.
