The Lord Of The Land And The Landlord

The other White House

What do being the president and being a homeowner have in common? Let's start with the roll you're now thrown into. New responsibilities and aspects of your life will change. Things will never be the same. There are positive and negative issues with both. Let's tackle the presidency for starters.

It's finally safe to use Barack Obama as an example. It's November 11th, and I couldn't think of a better day to share this comparison. It's been a week since 53% of us voted for our new president. While we've been drenched in so many reports and stories both on and offline, there may be a part of this that hasn't been dissected enough; how our new president's life and his family's life will be forever changed.

While Obama and Bush met at the White House yesterday, I couldn't help but think of the instant roll each of them will now play. One landlord moving out and a new lord of the land moving in. Two families truly changed by their increase and decrease of tasks.

Barack Obama has led an interesting life over the last two years. Campaigning and on the road daily while still maintaining a family and hopefully a personal life to some extent. We've watched him through all of this. He's lost his grandmother, traveled to a good majority of the United States and shook many, many hands during this time. It's over. He's now the new President elect and that means serious lifestyle changes.

No more innocent playground days with his daughters, walking on the beach, shopping with his wife or dining out with a friend or family member. He has chosen to give up many freedoms in order to better himself and our nation. He's losing some privileges most of us take for granted. It's quite a sacrifice especially considering he still has a young family. President Bush will also be giving up many responsibilities instantly. His lease is up and it's time to move on.

There are many unbelievable responsibilities along with positives for the new president. While currently waiting for his keys, he gets the White House. He also gets a team of people working for and with him to be called upon for his every need. Sweet potato pie for breakfast, a personal driver, private concerts by U2 and Barbara Streisand, and the ability to aide and help people throughout the world. That's not a bad trade.

When buying a home and becoming a homeowner, you might not get the personal driver or the use of Air Force One. You also more than likely won't get a full kitchen staff or be interviewed by Barbara Walters at Christmas. What you are gaining however, is your own sense of freedom, decision making and comfort knowing you're in charge. This new home will be yours. You can decorate it anyway you'd like, paint it any color you choose and maintain it as meticulously as you want.

Owning a home is a future financial freedom. A financial burden and blessing at the same time. For the next fifteen or thirty years, you're going to be making a mortgage payment. A payment not much different than if you were renting, but an obligation nonetheless. You're paying down the price of the home and once you've fulfilled your duty, the home is yours. That's something worth working toward.

You may be giving up some luxuries by deciding to own your own home. Depending on your personality and skill level, these could end up being difficult tasks or part-time enjoyable hobbies. In the middle of the night when the water heater goes out, you're no longer the tenant, you're the landlord. There won't be a property manager to take care of the lawn, collect the garbage or leaves. There's no longer a one-year lease that you're bound to and then set free when it expires. Those freedoms no longer exist.

Owning a home is give and take. It's different levels of freedom hand in hand. Ultimately, it's up to you to decide if you're the right person for the job and if you're ready to take on such a roll. Throughout history, homeownership has always been the best long-term investment a person could make and typically their largest asset. It often requires years of personal campaigning. Saving each month to obtain a down payment or security fund, requiring dedication and commitment. It takes hard work to get to that point where the keyring actually belongs to you. You can't be kicked out of your home or told what pets or color limits you're restricted to. You're giving up some freedoms to get new ones.

Depending if you're looking at the glass half empty or half full, you can make the task of homeownership a fun one or you can make it a stressful one. Throughout the years, the majority of homeowners I've talked with wouldn't have it any other way. Maintenance and work needed on a home seems to come in small spurts and can be handled through many resources. Overall, homeownership has more benefits than renting.

While our new president elect starts to adjust to his new position and major life change, so will many Americans tomorrow and next week. Homes close every day and keys are given from one homeowner to the new. It's often an emotional time and a moment where two lives will never be the same again.

My advice to new or nervous homebuyers is to take on this new roll with excitement and positive thoughts. There will always be small things in life to keep you alert. There will always be a broken tile or handrail that needs painted, but knowing the home and decisions are yours, should always outweigh. This isn't just coming from the Realtor in me but also the homeowner.

I think President Obama will adjust well and his family will settle into their new 1600 Pennsylvania Avenue address. They can never go back to their old lives, but their future is full of new freedoms we can all benefit from. We've elected a new lord of the land to which we're both the tenants and the landlords of. The next move is ours.