This website is dedicated to all the people who own homes and live in them. People who own homes and live in them have a vested interest in them. To a lesser degree those people who own homes here but rent them out can be landlords or to some extent renting out their homes for a season. The latter group is more like the occupied group whereas the investor is in it for a monthly or yearly profit and does not have day to day relationship with home and thus may have a different perspective how the home should or will be maintained.
The Investor is in business to make money, the occupied homeowner lives in the home and has a certain pride and sees their homes as a work in progress and often pays particular attention to long term details.
So you made a plan and took action. You found the perfect home and you’re ready to live in it. Now that you’ve signed on the dotted line, how does “renter” differ from “owner” you?
1. You start caring about your neighbors
When renting, it’s not uncommon to keep to yourself and not bother with introductions to anyone else in your building. Why make the effort? After all, your new neighbors are probably moving soon anyway, and this way, you can avoid the laundry room small talk.
But after purchasing a home, getting to know your neighbors might suddenly feel like a high priority. While not every backyard buddy is Wilson W. Wilson material, it’s good to know that in a pinch you have someone to water your flowers or offer advice on the most trusted handyman. What good is a beautiful block if you don’t know at least a few people at the annual party?
2. You’re suddenly an equity-building ninja
As a renter, the concept of building equity may have felt as though it was out of reach. If you overheard the phrase at happy hour, you’d think, Eh – don’t need to worry about that yet.
But now you’ve got skin in the game! Equity building may sound scary, but by making the leap from renting to owning, you’ve also taken a huge step toward investing in your financial future. So keep your eye on property values and perk up your ears when someone mentions cost-conscious home improvement projects — you can expect a major ka-ching down the road!
3. You have a new definition of “weekend warrior”
Rolling into brunch at 11 a.m. for a couple of bloody marys may be a recipe for a great weekend, but as a new homeowner, you likely have a few more agenda items on the weekend to-do list.
Many first-time buyers don’t have the budget to get a perfectly move-in-ready home, which means laying flagstone pavement and edging the path in your burgeoning backyard oasis might end up being your responsibility. Whether you’re DIY-ing solo or together, dedicating at least one day a month to home improvement projects is an easy way to transition into home ownership.
4. You’re planting roots
Renting has its benefits, but becoming a master gardener isn’t one of them. Unless you really hit the rental jackpot, most renters are satisfied with a microterrace, a tidy little herb garden, matching pots, and a bistro table for late-afternoon reading. Perfect!
Now that you’re fully embracing the owner lifestyle, invite all your neighbors over and show off your handiwork. See you at the housewarming!