Are you aware that June is National Homeownership month?
Probably not. Because you’re too busy working to afford the home you live in, whether you rent it or own it.
If you poke around and read anything you can find about it, you’re being urged to recognize and celebrate the benefits of homeownership.
That seems kind of a weird thing to ask you to do. Do you really have the time or care? What’re you supposed to do, throw a party? Sit alone and contemplate it? Invite some friends out for coffee and chat about it?
You’ve got to figure that the people who actively promote it probably have their reasons and motives for pushing it. (You know, like real estate agents, mortgage lenders, and the government.)
It makes you wonder…
Why do they push it, other than to make money?
Is it really the “American Dream”? Or is it just a packaged ploy?
Is it all it’s cracked up to be? What about all the people who were recently hurt by the housing market and getting in over their heads?
What about the economy and jobs? What about making enough money to even afford a house?
And, what about all the headaches and worries that come with homeownership?
Are you being sold on something unachievable, or not even all that desirable?
OK, first off…
Homeownership is not for everyone.
There always seems to be this push to increase the percentage of homeowners. It gets wrapped in reasons why it’s good for you, your community, the country as a whole…maybe even the whole universe.
Pushing to increase the percentage of homeownership for the sake of statistics and percentages is wrong.
Lots of people shouldn’t own a home. Maybe some people shouldn’t even be allowed to own a home even if they qualify financially. That’s what leads to problems, because it’s a responsibility not everyone can handle.
Besides, if everyone owned property it wouldn’t be as special. As coveted. As much of a dream.
So, if you do question whether homeownership is “worth it”, maybe it isn’t the worst thing. Maybe you shouldn’t own a home.
It’s easy enough to let the people who really want to own property, and believe in the value of it, own all of the real estate.
Just don’t buy any…
One of the catch phrases you’ve probably heard is, “There’s pride in homeownership.”
That’s kind of the cover-all reason given as to why more and more people should own their own homes.
You can’t entirely diminish the fact that there is pride and value in owning real estate. There is.
Nor can you entirely diminish the actual benefits of ownership, like building wealth, tax incentives, and not throwing money out the window and building someone else’s wealth.
But there’s certainly an inability for some people to buy real estate. Some people will never achieve homeownership.
And there’s certainly risk and worry involved. Not everyone can handle that.
It’s certainly understandable that lots of people shy away from buying real estate so soon after the real estate bubble burst, and the slow recovery. Some people are still recovering financially. Some people watched their parents struggle and worry, only to lose their home.
But for those who can and do own real estate, there is pride. And there’s appreciation.
Because while not everyone should own real estate…at least now everyone can.
It used to be only a select few who could own land.
Now almost everyone has the right to own property…if they want to and have the ability.
This isn’t the feudal system where there are only a handful of Lords who’ve been granted a piece of land to look after by a King. (Side note: Do you think any Lords ever questioned the value of owning land?)
You can choose to be the lord of some land. You just have to want to, and be financially qualified to.
While you don’t have to be “chosen”…nobody’s giving it to you either.
So, if you can financially afford to, there should be some pride and appreciation in owning a little (or large) piece of this planet, with a “castle” to call your own.
So, when you do decide to buy some real estate, you should enjoy the pride, appreciation, and respect for the right and privilege to do so. You are essentially choosing to be your own land Lord.
There are places in this world you still can’t. So, imagine that. Imagine not having the choice.
With all that in mind, is National Homeownership Month more meaningful to you?
Does it put homeownership in an objective light? Is it appealing to you? Does it make you want to own real estate? Does it make you want to own more real estate if you already own some?
Don’t get swept up in the hype of homeownership month, or anyone just trying to persuade you of the benefits of homeownership, no matter what month it is.
The best way to figure out if you should be a homeowner is to speak with a serious, objective real estate agent. One who takes counseling clients more seriously than pushing the pride of homeownership, just so they can make a sale.
Give me a ring if you’re looking for some good, objective counsel. I’d love to be part of that round table.