5 Important Mindset Shifts When Renting or Owning a Home

Renting usually requires minimal effort, but as a homeowner you will be putting your blood, sweat and tears into your home. In fact, the mindset between you as a renter and you as an owner will vary significantly more than you probably expect.

Saving becomes a priority

You probably did a good job saving as a renter, especially if you earned every penny of your down payment. However, saving becomes a top priority as a homeowner. You will always be thinking that an unexpected expense is going to surface and exhaust you. Whether you end up needing a new roof or desperately want a kitchen remodel, your savings account will pay off first.

Minor repairs become major

Almost everyone has neglected a minor rental repair. Whether it’s your closet door coming off the track or your kitchen faucet dripping all day, you couldn’t bring yourself to make an appointment with your landlord. When minor repairs are needed in your own home, you’ll want to take care of them right away. You could even immediately drive to the home improvement store.

Shopping has a new meaning

Shopping on a rainy day once meant spending hours at a mall or visiting antique shops in a nearby town. As a homeowner, retailers like Home Depot and Lowes become your favorite stores to open a new credit card.

community means something

There are plenty of renters out there who care about their community, but those who typically don’t once they become homeowners. He wants family businesses to succeed, so he does what he can to support them. You are excited about the opening of a new factory because that means more job opportunities, which could result in an increase in property values. It becomes a seller’s market when people move to the area for work.

Your idea of ​​fun changes

You probably never thought that pressure washing your siding or planting a garden would become your idea of ​​fun, but you’d rather spend time at home than go to the movies or pay a tab at the bar.

Buying a home has an impact on both your lifestyle and your overall mindset. Your priorities change, as do the ways you want to spend your time and hard-earned money. As you prepare to buy your new home, make sure you are prepared for all that this decision entails.