Why Owning a Home Remains a Good Investment

In the aftermath of the housing crash after 2007, there was increasing skepticism as to really how viable home ownership was anymore. There’s been lots of talk about the banks and shady lending practices. Fingers pointed at the government, the banks, and irresponsible borrowers and others to blame the housing bubble bursting on, while it turned out to be far more complicated of a mess than could be easily outlined. Consumers, especially potential homeowners, are understandably leery about sinking a huge investment into a purchase that may end up depreciating over time instead of accruing value. Even in Texas’ improving economy, both inside and outside of Dallas.

In spite of all the criticism, it was the bread and butter 30-year fixed-loan mortgages of the housing market that proved to protect borrowers from the crash and sudden fluctuations in interest rates. Rather than a relic from some golden era long past, these old fashioned loans allowed home owners who had them to weather the housing crisis while borrowers with shorter term, adjustable-rate loans suddenly couldn’t adapt to the enormous changes in their payment requirements.

Buying a home, whether it is an older home or a brand new custom home, is not the frightening proposition it was just a few years ago. All the old reasons why it’s a good idea are still there with some more information that should encourage, rather than discourage, the purchase of property. Just as the fixed-rate loans kept millions in their homes during the uncertainty of the housing crisis and collapse of the economy, studies are showing that regardless of background, it is homeowners who are more financially stable in the long run. Their children do better in schools, vote more often than renters, and get more deeply involved with their communities. Home owners see the most reliability in their net worth, again regardless of background. They also gain better access to credit. All of this helps drive the economy to a more stable state.

If you have always wanted a home of your own - whether it was some charming little place you used to ride your bike by as a kid in some sleepy Dallas residential neighborhood or plotting your dream custom built home “some day” - now is as good as any time to look into doing so. If anything, now is even better than ever before.