6 Reasons to Celebrate National Homeownership Month

Today, 65.6% of Americans call their homes their own, a rate that has risen to its highest point in 8 years.

As National Homeownership Month kicks off this June, homeowners have every reason to celebrate. A survey by Gallup just ranked real estate as the best investment you can make for the eighth year in a row. However, unlike other investment options, the benefits of owning a home aren’t purely financial. Here are the top ways Americans are winning by owning a home.

Non-Financial Benefits of Home Ownership:

1. Civic Participation: Owning a house is owning a part of your neighborhood. Homeowners have a stronger connection to their neighborhoods and are more committed to volunteer work and other ways to get involved.

2. Pride of Ownership: Owning a house is having a space that is uniquely yours. You can tailor it to your personal liking and make it echo your personality and values.

3. A Safe Space: Owning a home gives you a sense of security and privacy – two things that have become even more valuable as we’ve tackled the challenges of the recent health crisis.

Financial Benefits of Home Ownership:

1. Mandatory Savings: Owning a home builds cash savings in the form of equity. Your equity grows with each payment you make toward your mortgage. This form of forced savings can be used down the road to help you accomplish your larger financial goals such as starting a business or home renovations.

2. Appreciation: Owning a house is an investment that steadily gains value, and experts project home values will continue to climb in the years to come.

3. Stability: Owning a house means having control over your housing expense. Over the course of your loan term, a fixed rate mortgage stays relatively steady, but in the case of renting the rates continue to rise.

Take time this June to celebrate the ways homeownership has added value to your life. If you hope to become a homeowner this year, let’s connect today to take the first steps toward achieving your goal.