Homeownership is one of the biggest financial and personal commitments most people will ever make, and it can also be one of the most rewarding.
According to a recent survey, 97% of homeowners agree that owning a home is worth it overall. That’s an impressive number, especially when you consider how much responsibility comes with owning a home. But, at the same time, 61% of homeowners surveyed said that anxiety related to homeownership has at least a moderate impact on their quality of life.
So, which is it?
Is owning a home stressful, or is it worth it?
The answer is both.
And I think that is an important distinction for anyone who owns a home or is considering buying one.
Let’s face it, the roof needs attention, plumbing starts acting up, landscaping gets away from you, kitchen feels dated, and your to-do list can sometimes feel endless. But that doesn’t mean homeownership is a bad investment.
In fact, the survey suggests the opposite. Homeowners overwhelmingly believe the benefits outweigh the responsibilities.
Here are the 3 Biggest Reasons (aka Timmy G’s Top 3) why homeowners love being homeowners.
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No. 1: Homeownership Provides Stability and Permanence
The number one reason homeowners say owning a home is worth it is stability.
32% cited providing stability for their family, while another 29% pointed to a sense of stability and permanence. I think this is one of the most overlooked benefits of owning a home. A house is not simply an asset on a balance sheet. It’s where your life happens. Where children grow up, holidays are celebrated, friends gather for dinner, and where you come home after a long day.
In Greater Philadelphia, this sense of permanence can be especially meaningful.
We are fortunate to have communities with deep roots and strong identities. Whether you are living in a Philadelphia neighborhood, inner-suburban town, or a Montgomery/Bucks/Chester/Delaware County community, there is a tremendous amount of pride associated with where people live in our area. People identify with their neighborhoods. They know their local restaurants, parks, walking trails, farmers markets, and community events.
That connection creates something that is difficult to quantify financially, because it creates belonging.
That stability is one reason why the high-majority of homeowners continue to believe the investment is worth it, despite the stress that sometimes comes with owning a home.
No. 2: Homeownership Builds Pride, Equity, & Wealth (especially, the latter; haha)
28% of homeowners surveyed said pride of ownership and personal achievement was one of the primary reasons they believe owning a home is worth it. There is something powerful about looking around your home and knowing that you built something.
Maybe it’s renovated the kitchen, planted landscaping, painted rooms. TBH, it’s doesn’t really matter, because all of it adds up over time; and like I have said many times before on the Bricks & Risk Podcast, “Time is your friend when it comes to real estate.”
But, as stated in the above reason title, there is also a financial component. Every time you make a mortgage payment, you are potentially building equity. Over time, that equity can become one of the most valuable financial assets you own. Which is also why Americans believe that owning real estate is the #1 component of long-term wealth building.
Of course, home values can fluctuate, no investment is guaranteed, and personal lives can change. But homeowners have historically had the opportunity to build wealth through a combination of principal reduction, long-term appreciation, and tax benefits.
And the longer you own a well-maintained property, the more opportunities you have to benefit from that long-term ownership.
That brings us to an important distinction.
Owning a home is an investment.
Maintaining your home protects that investment.
No. 3: You Get the Freedom to Make the Home Your Own
Freedom to customize your own space as a reason for homeownership is sometimes also referred to as The American Dream. This is something renters simply do not have to the same degree, period.
When you own your home, you have the freedom to make decisions based on your lifestyle.
Want to remodel the kitchen? You can.
Want to create a home gym? Why not.
Want to paint the living room, build a patio, improve the landscaping, or create a dedicated office? Yes, please.
While I kid, I’m not kidding about the freedom that comes along with owning your own home, and this is also a major reason why homeownership becomes more than a financial transaction. Your home becomes your environment; it can reflect your personality, your priorities, and the way you want to live.
But there is a catch, and also one of the main reasons why renters never become homeowners.
The freedom of homeownership also comes with responsibility, and that is where deferred maintenance enters the picture. Dum-dum-dum, duuummm.
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According to the same survey, 69% of homeowners said they had at least one maintenance or repair task they had been putting off.
That number does not surprise me at all, especially because my professions allows me to look at a lot of different homes. Home maintenance is one of those things that is easy to postpone. You notice something small, then you tell yourself you will handle it next month, and then next month becomes next year. Look, it happens, we’re all human; zero judgement.
Nearly half of the homeowners who were putting off maintenance estimated that their backlog would cost $5,000 or more to address completely.
That is where the stress starts to build. To keep this fair, here are the 3 Biggest Areas homeowners reported putting off.
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No. 1: Landscaping & Outdoor Maintenance
Landscaping and outdoor maintenance was the most commonly deferred category, with 47% of homeowners reporting that they had been putting off work in this area.
This makes sense, particularly in Greater Philadelphia. Our homes experience all four seasons. We deal with hot summers, heavy rain, winter weather, freezing temperatures, and everything in between.
Trees grow.
Shrubs become overgrown.
Leaves accumulate.
Mulch disappears.
Decks need attention.
Walkways deteriorate.
The good news is that this category is often manageable with consistent attention. You do not necessarily need to spend thousands of dollars transforming your yard. Sometimes just trimming trees, cleaning up landscaping, pressure washing exterior surfaces, maintaining drainage, and keeping walkways in good condition can make a significant difference.
These improvements also enhance curb appeal, which also plays into your home’s value. That matters whether you are staying for another 20 years or considering selling next year.
No. 2: Cosmetic Upgrades
The second most commonly deferred category was cosmetic upgrades, reported by 44% of homeowners. This category is interesting because cosmetic improvements are often the easiest projects to postpone.
The kitchen is outdated, but it still works.
The bathroom could use new fixtures, but everything functions.
The walls could use fresh paint, but you can live with them.
The flooring is showing its age, but it is not completely worn out.
So the project gets pushed down the list, and there is nothing inherently wrong with that. Not every outdated room needs to be remodeled immediately. But, homeowners should understand the difference between living with something and allowing an entire home to fall behind.
Small improvements over time can be much more manageable than trying to complete 15 projects simultaneously when you are preparing to sell. That is why I often encourage homeowners to think about maintenance and improvements as an ongoing process rather than a single major event.
Make small, strategic improvements each year. Over time, they add up.
No. 3: Plumbing
Plumbing was the third most commonly deferred maintenance category, with 25% of homeowners reporting that they had put off plumbing-related work. This is an area where procrastination can become particularly expensive.
A cosmetic issue can often wait, but a plumbing problem may not. A slow leak, aging pipe, dripping faucet, water pressure issue, or drainage problem can eventually create much more significant damage if ignored. Reason being, water is one of the most destructive forces inside a home.
A small plumbing issue can eventually affect floors, walls, ceilings, cabinetry, insulation, and other components of your home.
This is why I always recommend homeowners prioritize maintenance based on consequences, not simply appearance.
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In summary, this survey provides an important lesson for homeowners.
The goal is not to eliminate every expense associated with homeownership, that’s impossible. The goal is to stay ahead of the expenses that can become significantly larger when ignored. Think of your home like a long-term business investment. You would not run a business for 10 years without maintaining the equipment, updating the systems, or investing in improvements.
Your home deserves the same approach.
Create a maintenance calendar.
Set aside money for unexpected repairs.
Address small problems before they become major problems.
And keep a running list of improvements you would like to make.
You do not have to do everything at once. You simply need a plan.
For anyone considering relocating to Pennsylvania and buying a home, this is an important part of the conversation. Homeownership is incredibly rewarding, but buyers should go into it with realistic expectations. A home is not maintenance-free. One of the best things a buyer can do is leave room in the budget for the unexpected. That way, the first plumbing issue or landscaping project does not turn homeownership into a financial crisis.
The most encouraging statistic in this entire survey is also the simplest. 97% of homeowners still believe owning a home is worth it, and that tells us something. The benefits continue to outweigh the challenges for an overwhelming majority of homeowners.
Stability.
Permanence.
Pride.
Equity.
Wealth.
Freedom.
Those things matter. Because despite the occasional stress, 97% of homeowners are telling us something pretty powerful. Owning a home is still worth it.
I’ve built my career and relationships in Greater Philadelphia through hard work, integrity, and consistency, and I’ve watched first-hand our neighborhoods/towns evolve, markets shift, and communities strengthen. I believe strongly that when you love where you live, it shows.
Hit me up (267-879-2716, phillyurbanliving@gmail.com) if you’d like to pick my brain on different places to live in our area (I have Realtor connections across PA state), learn more about what your property is worth, or just want to chat about this blog post.
I love meeting new people, chopping it up, and adding value where I can!
