National Homeownership Month: 6 Reasons to Celebrate

Our homes are so much more than the structures in which we reside. For many of us, they’ve also become our workplaces, our children’s schools, and safe havens where we’ve withstood the worst of a worldwide pandemic. Today, 65.6 percent of Americans declare their homes their own, the greatest percentage in eight years.

Homeowners have every cause to rejoice as National Homeownership Month begins this June. For the ninth year in a row, Gallup named real estate as the best investment you can make. Unlike other investment options, however, the advantages of owning a home are not solely financial. Here are the top reasons why having a home benefits Americans.

Non-financial Advantages:

1. Civic Engagement: Owning a property entails owning a piece of your community. Homeowners have a greater connection to their communities and are more willing to volunteer and participate in various ways.
   
2. Ownership Pride: Owning a home means owning a space that is completely yours. You may make it represent your personality and ideals by customizing it to your desire.
   
3. A Secure Environment: Having a home provides you with a sense of security and privacy, both of which have become increasingly vital as we face the challenges of the recent health crises.

Financial Advantages:

1. Compulsory Savings: Having a home increases your equity. Each payment you make toward your mortgage increases your equity. This type of forced saving can be employed in the future to help you achieve your most important financial goals.
   
2. Appreciation: Buying a home is an investment that grows in value over time, and analysts predict that home values will continue to climb in the coming years.
   
3. Stability: Having a home gives you more control over your housing bills in the future. A mortgage remains relatively stable over time, but rent costs continue to grow.

Bottom Line

If you own your home, take time this June to celebrate the ways homeownership has added value to your life. If you hope to become a homeowner this year, connect with us today to take the first steps toward achieving your goal.