A house is “a building that serves as living quarters,” according to Merriam-Webster.
But for a family with children, a home often signifies so much more. A home is the place where comfort is found, memories are stored and bonds are strengthened.
A true homestead offers a wealth of benefits for families. Here’s our list of the top four reasons buying a home is great for families.
It’s a simple (and studied) fact: playing outside is good for kids. A big backyard locks kids into all kinds of benefits, including reduced stress, greater self-discipline and quicker recovery from illness.
Rentals do occasionally feature big yards. A purchase, however, allows you the freedom to manipulate that outdoor space. Want to build a treehouse? Plant a garden? Put up a fence for your dogs? Go for it. As long as your modifications are in line with homeowner’s association policies, you have free reign to create your own backyard paradise.
Most areas of the country are free of rent control. That means a landlord is free to raise rent without restriction.
As demand for rentals has increased in recent years, monthly rent continues to climb. Rental vacancies hit a 10-year low in the second quarter of 2012, and spurred the biggest rental cost increase since the third quarter of 2007. Asking rents have now jumped to $1,091 per month, according to research firm Reis Inc.
Unexpected rental increases can be tough on families trying to save for tuition or purchase cars for their kids. Homeowners with fixed-rate mortgages, on the other hand, have the luxury of a steady monthly payment.
To avoid landlord scorn and a hefty repainting fee, renters are often hesitant to alter their kids’ bedrooms.
But homeowners? Bring on the Pepto Bismol pink and the dinosaur decals.
Owning a home grants you the freedom to decorate (and redecorate) according to your child’s latest whim. Whether your kiddos are in the cutesy nursery stage or a gothic vampire-y phase, a home purchase allows you full creative license.
Homes hold such an emotional grip over children. And it’s often an invisible grip until kids reach adulthood. Kids usually don’t realize the significance of a permanent home while they’re busy building sandcastles or hosting slumber parties.
But once children are grown and gone, their appreciation of “home” gradually builds. Daughters remember hopscotch on the sidewalk. Sons think back to backyard campfires and their first snow forts.
A stable, lasting home is the perfect foundation for a lifetime of beautiful memories. With a home purchase, parents can impart feelings of attachment, security and permanence to their children.
“The home should be the treasure chest of living,” said famed architect and writer Le Corbusier.
Your treasure chest is waiting.
Veterans United Home Loans is the nation’s #1-dedicated VA lender. Contact us at 855-870-8845 or via www.VeteransUnited.com.
A VA loan is a mortgage option issued by private lenders and partially backed, or guaranteed, by the Department of Veterans Affairs. Here we look at how VA loans work and what most borrowers don’t know about the program.
VA loans allow Veterans to have a co-borrower on the loan. Here we break down co-borrower requirements and provide common scenarios around co-borrowing and joint VA loans.