Being a new homeowner is super exciting, especially if you're a first-time homeowner. If you bought a home in the last 12 months – first of all, congratulations – you're probably still very excited and learning more and more about the responsibilities and benefits of ownership. 

But after you've lived in your house (or condo or townhouse) for a while, your excitement may not be top of mind anymore. 

So as we sit down for whatever Thanksgiving celebration you're part of this week, we celebrate the harvest and other blessings of the past year. And if you're reading this, one of those blessings is indeed your new home. 

To honor this holiday of gratitude — from our perspective in the mortgage industry — here's our quick take on what new homeowners can be thankful for this holiday season.

1. Be thankful for savings: We saw crazy things happening in the real estate world over the last year. Home prices skyrocketed. There were more buyers than homes for sale. Bidding wars were nuts! Mortgage rates stayed low, fueling the buying surge. And working from home allowed people to eliminate the cost of commuting and the pandemic restrictions kept us from spending on everything from vacations to dining out. That allowed us to save more for down payments and closing costs. Sure, virtual closings and social distancing during house hunting were weird, but you made it. Now that you're a new homeowner, a massive part of your cost of living — your monthly mortgage payment — is static for years and years. That's got to be a relief to be thankful for! 

2. Be thankful for nesting:  Whether you look at it this way or not, your new home is a place you and your family come to for safety, rejuvenation, rest, and relaxation. And for many, your new home is also your new home office! A home is an anchor, a source of emotional stability that you really only truly feel when you become a homeowner. Some day you might move on, sell this home and buy another, or merge homes with someone else. Whether that's years or decades from now, leaving this space will be challenging, but your connection with it will last a lifetime. 
3. Be thankful for a blank canvas: Remember when you lived in an apartment? When the lease was over, you had to return it to its original state that you found it in on the day you moved in. maybe you had to paint the walls, refinish the floors, or repair or replace carpeting. That's no longer true when you own a home. How nice is it that you can truly customize your new home to your heart's content? Whether you take a stab at landscaping, paint the exterior, redo the interior, take down a wall, or put in a patio. You only need to seek permission from yourself. Want to paint your kitchen neon green? If you're feeling it, go for it and make it yours! 
4. Be thankful for tax deductions: We're not tax accountants, obviously, but we do know that come April, you may be able to reduce your tax liability by being a homeowner. Talk to your tax preparer about things like closing costs, points, home improvements and repairs, and mortgage interest. Your tax preparer will look at your home's value and see what deductions are options in your particular situation. Certainly, you didn't buy your new home just to be a tax write-off, but isn't it nice that it might be an option?
5. Be thankful for home equity: You're just getting started, but as you live in your home and make improvements, the value of your investment is likely to increase. Depending on where you live — and when you closed in the past year — you may have already seen your property value rise. Home equity is the difference between what you owe on your mortgage and what your home is currently worth. If you owe $200,000 on your mortgage loan and your home is worth $250,000, you have $50,000 of equity in your home. To increase equity, you have some choices. As you pay down your mortgage, the amount of equity in your home will rise. Your equity will also increase if the value of your home jumps. And for some mortgages, you can make lump-sum payments to reduce the principal owed. Equity can fall, too, but you made a smart investment choice if you purchased with the long-term in mind.

We're thankful for you!

This Thanksgiving, as you gather with friends and family at your new home or theirs, pat yourself on the back: you bought a new home against all odds in and in a tumultuous period of our country's history. Congrats.

As for us, we're thankful for all of the following:

• the wonderful homeowners we've been able to help over the last year
• the customers who've referred Movement to friends and family looking for easy-to-understand home financing solutions
• the Loan Officers and support teams who've been working hard to get our borrowers into homes quickly
• the Realtor partners who've helped Movement Mortgage retain our position as the nation's sixth-largest retail mortgage lender

Once again, Happy Thanksgiving, everyone!