Are you a happy homeowner?

Do you know how to tell if you are a happy homeowner? Happiness is a vague concept, especially when it comes to home ownership. Many homeowners feel as if their happiness in owning a home is tied directly to the value of their home

But true happiness, recession-proof happiness without the emotional ups and downs of the value and price of homes, is something else entirely. Homeowners who are truly happy, tend to share certain key qualities, that enable them to be happy in the face of the ups and downs of the housing market

Do you know how to manage your money?

Being smart about managing your money doesn't necessarily mean you're a Wall Street expert, and it doesn't mean you're obsessively tracking every penny you spend. What it does mean is your being proactive about financial planning, making a budget to track both your income and expenses, save for both long-term and short-term goals, and live within your means

This might seem incredibly complicated, and difficult, but once you start developing good financial habits, the positives tend to compound and it gets easier to maintain. Once you start being more assertive about your finances, temporary setbacks like a leaky roof or a broken garage-door aren't financial catastrophes. You've planned for them and can handle them in stride

Are you glass half full about your future?

If you think in the long term, and I mean, the very long term of the future, you're immune from getting caught up in the cyclical ups and downs of the real estate market

It's important to think positively and remember that as a general trend, over 25 and 30 years, your home will increase in value. It's just the nature of real estate. Sure, in the very short term, there are ups and downs, but if you're planning and thinking for long term goals, those short term ups and downs are meaningless

How conservative are you?

If you're a conservative mortgage holder, someone who puts a lot of money down and makes extra payments when you can, and invests in improving your home, you're making smart and successful choices that can increase your happiness in home ownership

This is because this type of conservative behavior, compared to taking short-term or aggressively adjustable loans, helps ensure that your equity position is both strong and stable

Are you in it for the long-haul?

If the home you live in, is the home you want to live in for the next 30 years, you are less susceptible to the ups and downs of the real estate market

This is why it's important to consider long-term prospects when you are first purchasing your home. Is it spacious enough for you and your family, or future family? Is it in a neighborhood you enjoy, and feel both safe and happy in? These are all things to consider so that the home you purchase is a home you can make a long-term commitment to living in

If you're planning on living in your home long-term, the ups and downs of the real estate market don't mean anything, because you don't need to sell your home and move, potentially even at a loss

These are just some of the traits that make a homeowner happy, even in the midst of a recession