Ignite FB Tracking PixelHow Homeownership Changes You - Ted Stumpf
How Homeownership Changes You

by Ted Stumpf 03/04/2019

Buying a home is a huge deal. First-time buyers transform from renters to owners in a single transaction, a change that has far-reaching implications about how you see yourself. 

Being an owner grounds you in your community.

Now, as the owner, all these things are yours to manage. When you live in the property that you own, you are your own landlord. You’re the property manager in charge of repairs. The buck stops with you! 

Don’t let all that responsibility deter you, though. It is that very sense of duty that creates pride of ownership. While your home doesn’t define you, it does represent you in the neighborhood and to your community. And with the responsibility come all the rights of ownership as well. 

Every payment you make toward your mortgage principle adds value—equity—to your home. Each time you maintain your home and yard, you’re helping it retain that equity. As a renter, your payment went to the owner’s equity. So, if you make improvements to your home, and continue to pay toward the principle, that equity accrues to you. 

Equity increases when the community or neighborhood becomes more desirable so that the fair-market value goes up. Increases due to economic growth and demand add up to more value for you … instead of an increase in your rent payment that goes to a landlord.

Being an owner helps your bottom line in other ways too.

Because you appreciate your property, it appreciates in value.

If you've never owned a home and would like to explore the possibility, start by contacting a real estate agent and get the conversation started.

About the Author

Author
Ted Stumpf

Ted draws energy and joy from building synergetic relationships with his Clients. Ted's nature is graciously gregarious and persevering; he's honest;and he's been dedicated to a substantial list of clientele throughout his 25 years in the hospitality business. His passion is creating a sincere,successful relationship with people.

Ted grew up in a family of Realtors in central Indiana, earned a degree in economics and philosophy from the University of Notre Dame, and jumped into all aspects of the restaurant business. His ensuing hospitality career path eventually led him into the Event Management Sales & Service role in hotels and quickly guided him to Los Angeles, San Francisco, and finally to a luxury resort in the Napa Valley, where he, his husband, and their dog have resided for almost a decade now.

The irony is not lost on Ted that his ‘growth’ journey has culminated in“living happily ever after” in an agricultural area with a small-town feel and sense of community strikingly reminiscent of his youth…and as a Realtor nonetheless!