Essay Benefits Of Owning A Home

1051 Words Nov 21st, 2014 5 Pages
Owning a home, a place to raise a family and create memories. A dream that many holds close to their hearts and at one point lived the dream. Feeling the pride of ownership, having a place to raise a family, create memories and receive tax benefits. Then the day comes the economy takes a downfall, and people start to lose their jobs. Cash becomes low, not enough to pay the mortgage on the house, and then the home is foreclosed. Taken away by the banks, losing the benefits of owning a home, and forced to waste money on a rental. Wondering if there is hope of ever owning a home again. Painting walls, adding new fixtures, laying the perfect flooring to bring it altogether. Raising a family, setting up a swing set and a playhouse for the children to play on while you work on your garden. Having family and friends over for a barbecue in the backyard, are all joys of owning a home. Purchasing a home is purchasing the opportunity to make memories that can be passed down through generations.
Then it hits, and the economy declines forcing many into losing their jobs. Unable to find work to pay the mortgage you start to see your home slowly being threaten to be foreclosed. Knowing that having a foreclosure on your credit report will hurt your chance of purchasing another home you struggle to sell your home. The economy has hit the real estate market hard. People have a hard time selling their homes, watching them go to foreclosure. Taken by the banks and forced out of a home that…

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