Legacies of home ownership

THE 3 LEGACIES OF HOME OWNERSHIP: FREEDOM, WEALTH, AND MEANING

HOME OWNERSHIP

It’s called THE AMERICAN DREAM and for good reason. I think it can be distilled into 3 interwoven categories and I will describe each as LEGACY. The 3 Legacies of Home Ownership FREEDOM, WEALTH and MEANING.

FREEDOM

Owning your own home on your own land makes the day to day freedoms of living so much better. Parking: You are not paying extra for a space or struggling to find one on the street, or in places with Snow Emergencies, getting towed because you had your car parked on the Plow Side. Carrying in the groceries from your garage sure beats the walk from the crowded lot too. There isspace to spread out, with project rooms, dens, offices, extra bathrooms, and LARGER ROOMS at that usually. These spaces can be modified however you like, without consulting a landlord. Speaking of Landlords, DONE!!! Get a dog, plant a garden, or landscape an outdoor kitchen and entertainment center. How about a hot tub, pool, or basketball court, Live the LEGACY of FREEDOM every day in your home on your land.

WEALTH

According to the Federal Reserve, homeowners had a median net worth of $396,200 in 2022 and a mean net worth of $1,530,900 (which obviously has been driven up by some very wealthy people). Renters, on the other hand, have a median net worth of just $10,400 and a mean net worth of $154,900. Live the LEGACY of BUILDING YOUR WEALTH. Stop paying your Landlord’s Mortgage and retirement contributions. Also, do not worry about interest rates. They do affect your monthly payments, but through the miracle of compounding equity, you will gain wealth. The interest rate on rent is always 100%. You will always be able to re-finance into better rates in the future. Think of it as marrying your home, and dating your rate.

MEANING

Day to day life filled with FREEDOMS, and your mortgage payments compounding to build your WEALTH synergize to grow a more meaningful life. Sending in a mortgage payment every month is an opportunity to recognize that you are investing in YOUR! Your quality of life improves as your roots in your neighborhood grow, as stories emerge from block parties, nights on the patio, helping with a neighbors drive who can’t get out, supporting the kids on the block when you buy their candy, cookies or support projects. You get the dog you always wanted, have a spare room to help out a family member, paint and remodel and landscape, knowing that this is YOURS! Maybe OFF THE GRID, away from it all is where you derive your meaning, in your solitude, with your land and loved ones. FANTASTIC. Then Home Ownership will facilitate that path as well. Watch the trees grow you planted, see how the land and you journeytogether. Build a post frame, start a small business, keep all the toys you ever wanted on your property with no extra rents, cherish the memories of family times here, even if family is just you and your dog, walking the property. LIVE THE LEGACY of MEANING

freedom wealth and meaning

I am sure as many reasons for owning a home exist as there are people who live in them. I think that these three encapsulate the YOUR FUTURE as a HOME OWNER. YOUR LEGACY. IT IS WAITING FOR YOU TO TAKE IT. Text or call (612) 387-1442 to plan our workand then work our plan.

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