Although Thanksgiving Day has come and gone, America’s Preferred Home Warranty (APHW) wants to keep the gratitude going in celebration of National Roof Over Your Head Day! Here are some things you as a homeowner can be thankful for every day of the year.
1. “Home Is Where the Heart Is”
Whether you’re gathering with friends, creating family memories, or spending much-needed time alone, your home is the center of many long-lasting traditions and wonderful experiences. It’s no wonder then why so many great writers, poets, and thinkers consider home a place where we find love, fulfillment, and most of all, peace of mind.
2. Asset Appreciation
Another joy of having a home is that it often makes a good investment. Since most homes increase in value over time, generally with similar long-term returns as retirement funds and stocks, this typically makes homeownership a smart financial decision. In fact, the average homeowner gained $9,800 in equity in 2020 alone – which is something every homeowner should be thankful for!
3. Lower Cost of Living
Homeowners can breathe easy as rental costs rise, knowing once their home is purchased, their payments will remain steady depending on their loan agreement. Plus, with expenses such as utilities, food, and other essentials steadily going up due to inflation, homeowners can more easily adapt their budget to maintain their lifestyle without having to account for increased housing rates.
4. More Freedom
When you own a home, you don’t have to deal with having a landlord who can enter your unit for periodic inspections and routine maintenance. What’s more, homeowners never have to live by the rules imposed by apartment complexes, which may control where you park, dictate how many guests you can have, or put limits on your pet options. Most importantly, owning a home lets you make improvements without needing prior approval, giving you the freedom to upgrade or enhance your home any way you choose.
5. Tax benefits
The Tax Cuts and Jobs Act of 2017 ensures homeowners can still deduct mortgage interest from their income taxes, giving you more budget flexibility than people who rent. Add to this a range of other tax deductions like closing costs, repairs, and other household expenses many homeowners can access, and you have more opportunities to reduce your tax liabilities.
Helping Others Experience the Comforts of Home
It’s that time of year when more people around the world come together to support those in need. One way you can help others experience the joys of homeownership is by giving to the organizations that provide shelter to people in our communities, whether through volunteering or financial donations.
Here are just a few of the charities you can support to help others find comfort:
- Building Homes for Heroes
- The Fuller Center for Housing
- Habitat for Humanity
- Home for Our Troops
- Your local homeless shelter
America’s Preferred Home Warranty also proudly supports a number of charities and non-profit organizations that foster children to help them from becoming homeless, and support their families as they go through critical life transitions. Anything you as a homeowner can do to help will go a long way.
- Cleveland Clinic Children’s Rehabilitation Center
- Jackson Interfaith Shelter
- Michigan Disability Rights
- Rock of Ages Ministries
- Santa’s Wish List
- Jackson YMCA
- Child and Family Charities