What Does Homeownership Really Mean to You?

When we talk about homeownership, the conversation often centers on numbers: interest rates, property values, and the return on investment. But every once in a while, someone shifts the narrative, reminding us that owning a home is about more than financial metrics.

Skylar Olsen, Zillow’s Chief Economist, did just that during a recent podcast interview. Her perspective wasn’t filled with spreadsheets or market predictions. Instead, it touched on the emotional and personal reasons people choose to own homes. And it’s something worth reflecting on as we consider what homeownership truly means in today’s world.

Homeownership: More Than an Investment

Olsen acknowledged her love of data—something you’d expect from an economist. She pointed out that from a purely financial standpoint, renting can sometimes make more sense than buying.

But then she offered a perspective that went beyond the numbers:

“That’s the cost of ownership and customization and personalization and vision,” she explained.

For Olsen, the value of homeownership lies in its freedom. It’s not just about the financial payoff—it’s about the ability to create something uniquely yours. It’s about crafting a space that reflects your personality, your vision, and your goals in a way renting often doesn’t allow.

Freedom to Create Your Space

Olsen shared a glimpse into her own life: a backyard with chickens, fruit trees, flowers, and even a few overripe pumpkins destined to become chicken snacks.

“Could I have done this as a renter?” she asked. “No landlord would allow this craziness. That’s what ownership means to me. It’s not just the financials—it’s the optionality, the personal vision. It’s my castle.”

This resonates deeply with many homeowners (or those dreaming of owning a home). It’s not just about having a roof over your head—it’s about having the freedom to create a life that feels authentically yours.

Redefining the American Dream

For decades, homeownership has been synonymous with “The American Dream.” Traditionally, this vision included a single-family home with a white picket fence. But times—and dreams—have evolved.

Olsen emphasized that homeownership doesn’t have to mean a suburban house. For some, it’s a downtown condo. For others, it’s a rural property with room to roam. And for some, it might even mean renting—because what they value most is flexibility.

The core of the American Dream, she said, is about vision and choice. Owning a home gives many people the ultimate opportunity to turn their vision into reality.

What Can We Learn from This?

Olsen’s reflections provide some meaningful takeaways for anyone considering homeownership:

1. Define What Homeownership Means to You
While financial considerations are important, it’s equally crucial to think about what owning a home means on a personal level. Is it about stability? Freedom? Building a space for family gatherings? Take time to identify what matters most to you.

2. Remember: There’s No One-Size-Fits-All Dream
The perfect home looks different for everyone. For some, it’s a house with a yard and room for chickens. For others, it’s a modern condo close to the city. Focus on finding a space that feels like “yours.”

3. Consider the Non-Financial Benefits
Beyond the financial investment, homeownership offers a lifestyle investment. It provides freedom, stability, and the opportunity to create something uniquely yours—a space where you can truly thrive.

At the heart of Olsen’s story is a reminder that homeownership isn’t just a transaction. It’s about creating a space where your life—and your dreams—can unfold.

So, what does homeownership mean to you? Is it a backyard full of possibilities, the stability of having something that’s truly yours, or the chance to make your mark on a space that reflects who you are?

Your vision of home is out there. Let’s make it a reality.

Sources: Knowledge Brokers Podcast