Hello June, Hello National Homeownership Month!
In addition to being the first month of summer, June is also representative of National Homeownership Month. National Homeownership Month is not just dedicated to those who own a home. It should also be understood as a beacon of motivation for those on their way toward homeownership, and to provide a more comprehensive celebration of what owning a home symbolizes beyond just being a financial asset. Owning a home is far more than just having an address!
To many, homeownership no doubt dovetails with the American Dream. Maybe the traditional white picket fence and golden retriever isn't what you're aiming for. No sweat! Owning a home is all about you and the liberties you see for yourself in the house that you choose. Especially as a first-time homebuyer, purchasing a house is a milestone toward greater independence. And the benefits aren't shortlived either: financial stability, tax breaks, incentive to become involved in your local community, and the opportunity to build personal wealth as equity increases are just a few of the perks of becoming a homeowner.
According to the National Association of Realtors, homeownership has been statistically proven to foster higher educational achievement in children. Parental homeownership in low-income neighborhoods also tends to have a positive impact on educational outcomes for children. Additionally, homeownership has been seen to positively correlate with increased civic engagement, better physical and mental health, and reduced crime rates.
The newfound freedoms in owning a home are extensive, but keep in mind that purchasing a home is also one of the largest financial decisions you'll likely make in your lifetime. Not sure if you're ready? Check out our other blog category, Buying a Home, here!