The Zen of Home Ownership

We’ll cover some good reasons to own a home, along with an explanation of what we call the “Zen of Home Ownership.” This relates to the concepts of Zen as a philosophy of enlightenment.

In this case, the enlightenment is that which is attained by people who realize the value and beauty of home ownership. When they have weighed the relative merits of renting versus buying and decide that buying and owning is the way to go, they develop the conviction and resolve necessary to see it through.

Some of the ways in which this manifests itself include:

A long-term perspective with the ultimate goal of home ownership driving and incentivizing their motivation.

A willingness to perhaps take less now (in other words, spend less now) with that long-term goal in mind. For example, driving a practical and modest car for several years in order to maximize both their financial standing and the amount of money available when the time comes for the down payment on a mortgage loan.

A dogged determination to transcend short-term obstacles and overcome them.

Peace of mind in knowing that they are doing the right thing for themselves and their families.

In his groundbreaking book “One Up on Wall Street” Peter Lynch wrote about the importance and value of investing wisely. As one of the greatest and most successful investors of all time, he built a resume and background that commands respect and attention to his ideas. And one of the most sagacious pieces of advice he gave was to make sure that before embarking on a long-term investment strategy, a person should first and foremost buy a home.

That a Wall Street guru such as Peter Lynch would specifically single out home ownership as a primary goal, even before investing for long-term financial health, is quite significant. But as anybody that read any of his books or articles knows, he “gets it” in the sense that he has a levelheaded and sensible approach to life in general, and this is just one expression of that.

Once the would-be homeowner reaches Nirvana by attaining that goal, the Zen state of mind continues and is even strengthened, as actually having one’s own home reinforces everything that had been planned and accomplished. For example:

Mundane tasks such as mowing the lawn and sweeping the driveway become a source of pride and achievement, knowing that they result in further beautification of the already pleasing home environment.

Repairs and upgrades also add to the feelings of satisfaction and happiness, with every improvement a source of reward. Just driving up the driveway and looking at the resplendent home that they own gives a sense of joy and dignity.

The state of mind of the homeowner validates all the long-term planning that it took to get to that Zen-like feeling.