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August Press Release_MAR

August Press Release_MAR

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Published by Randy Poll
Becoming a Homeowner – Now What?
Becoming a Homeowner – Now What?

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Published by: Randy Poll on Aug 12, 2010
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05/12/2014

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News Release

For more information contact: Patricia Nieboer, Association Executive West Central Association of REALTORS® 10443 Northland Drive, Big Rapids, MI 49307 (231) 796-3640, (231)796-3645(fax) For immediate release

Becoming a Homeowner – Now What? August 2010
More than 2.5 million people became first-time homeowners last year. Like graduating or getting married, this life-changing event will usher in a new chapter in their lives. Once new homeowners have their house keys in hand and prepare to move furniture into their new place, one question they may find themselves pondering is, “What happens now?”

One major advantage new homeowners will enjoy is the ability to personalize and decorate their house; renters are often restricted in this respect. Walls painted in a rented home will likely need to be repainted in their original color when the renter moves. Remodeling the interior is an investment a renter will never recoup. In contrast, homeowners have the freedom to strip the interior bare and rebuild it entirely, investing in remodels and upgrades that can pay off in the long run. According to the West Central Association of REALTORS®, websites like HouseLogic.com can provide tips, home improvement advice and how-to’s that can inspire homeowners and help them maintain and enhance their home’s value. “Closing on a property for the first time is a tremendous accomplishment. It represents the hard work and responsible choices of the new owner,” said Randy Poll, President. “When you invest in your future through homeownership, the possibilities are endless,

and HouseLogic can help both new and seasoned homeowners take full advantage of the opportunities that owning a home offers to people. It’s a rewarding experience through which families build lives and memories, as well as their financial futures.”

Over the long-term, owning a home helps people dramatically increase their net worth. The most recent data from the Federal Reserve Board shows a homeowner’s net worth is 46 times that of renter’s. According to Poll, homeownership is how many American families begin to accumulate wealth.

“Even given the challenges of today’s market, people who bought within their means with the intent to stay in their homes for more than a few years have the opportunity to build financial stability into the future,” said Poll. “A fixed-rate mortgage might last 15 to 30 years; renting is forever.”

Even so, Poll says purchasing a house goes much deeper than dollars and sense analysis.

“Home is a place of comfort and security,” said Poll. “Owners don’t move as frequently as renters so it encourages stability. Most people don’t want to uproot their families and disrupt established friendships by leaving the community they’ve invested so much in emotionally as well as financially. Homeownership isn’t for everyone, but for over 200 years millions of Americans have owned homes and have enjoyed the benefits. This has not only strengthened families, but also has bestowed immeasurable benefits for individuals and the country as a whole.”

The West Central Association of REALTORS, a local non-profit real estate trade association, has over 240 members in Newaygo, Lake, Mecosta, Osceola, and Montcalm counties. Affiliated with the Michigan and National Association of REALTORS®, it is dedicated to education for professionals, promotion of home and real property ownership and protection of personal property rights through legislation.

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