Celebrating Freedom this Independence Day
The 4th of July is an exciting celebration in North Carolina and throughout the country. Cities and other municipalities will host parades and fireworks displays as a patriotic tradition. This celebration of the birth of our nation holds quite a bit of significance for all Americans. We also call it Independence Day, a term that can hold additional meaning. If you want to celebrate your own independence, from renting or as you relocate to the beautiful Asheville area, here are a few ways buying your own home can do that.
Celebrating Independence Day
You may remember from elementary school that the 4th of July is celebrated in the U.S. as the day in 1776 when the Continental Congress declared the 13 colonies united, free, and independent states no longer subject to British rule.
Today, we celebrate our independence as a nation with fireworks, parades, cookouts, and general community bonding. We may not think much about what our founding fathers were thinking when they approved the Declaration of Independence, but we know that we belong to a strong independent nation. And independence is an important value for the American people.
Freedom from Rent
As an individual or a family, there are a few ways you can declare your own independence. One such way is by purchasing your own home to escape the cycle of rent. Once you have a mortgage, you have a fixed or adjustable rate that you know in advance, as opposed to landlords who may raise your rent annually.
Three years ago, we wrote this blog post about renting versus buying. And while some of the details have changed over time, the advice is solid. It’s always worth talking with a mortgage professional to determine if buying your own home makes more sense than renting.
Planning Your Financial Future
For many people, personal independence means financial independence. How this looks in practice will vary from person to person and family to family. This article by Investopedia shares information about planning for financial independence starting in your 20s, but it’s never too late to take the advice. Some suggestions include:
- Having fun
- Being your own best financial asset
- Becoming a planner
- Setting goals
- Having modest lifestyle costs
It may make sense to include buying your own home in this list.
Peace of Mind
Independence, in whatever form it takes, is simply another way to give you peace of mind. And in a fast-paced world full of outside stressors, you can’t put a price on your mental well-being. Sure, there are additional considerations when buying your own home, such as maintenance and repair, but there are also a lot of benefits.