Adopting a long-term approach to home ownership always has made sense. Owners then can invest in making their house exactly as they want it. Over time they’ll also get to know their neighbors, and find favorite activities in the area.
Homeowners are remaining in their houses for longer periods, notes recent research from the National Association of Realtors (NAR). Last year sellers had lived in their home an average of nine years.
Yet from 2001-08, homeowners tended to move after just half a dozen years, states NAR. Sellers now typically say they’re moving either because they have a new job, or their current residence is too small.
Many happy memories are created as we live in a home for years. We’ll remember special times we shared with family and friends there.
Buying for the long term also tends to be beneficial to us financially. Our home’s value typically will increase at around the same pace as inflation. Costs related to purchasing are effectively spread out over numerous years, as well. And knowing you’ll enjoy affordable payments as long as you stay in your home makes living there even more pleasurable!