It’s National Homeownership Month – Here are 10 Really Good Reasons to Celebrate

National Homeownership Month began as a week-long celebration of homeownership in 1995. In 2002, President George W. Bush proclaimed June as National Homeownership Month saying,

“Homeownership is an important part of the American Dream…A home provides shelter and a safe place where families can prosper and children can thrive. For many Americans, their home is an important financial investment, and it can be a source of great personal pride and an important part of community stability.”

During an interview back in the 1980’s, I was motivated by Warren Buffet’s words, “Never pay another man’s mortgage.” I was so inspired by his words, I bought my first house and never looked back. In fact, when I started doing online marketing, one of my first domain names I chose was LoseYourCharlotteLandlord.com – homeownership is so very important to our futures.

Our homes are so much more than just the houses we live in. In 2020, our homes also become our workplaces, space for homeschooling our children and safe havens in which we’ve weathered the toughest moments during a global pandemic. The census bureau revealed this year (2021), that 65.6% of Americans now call their homes their own, a rate that has risen to its highest point in 8 years. 

As National Homeownership Month kicks off this month, 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, yet another of Warren Buffet’s bits of wisdom I heard in the interview I heard back in the 80’s. Americans also voted real estate as the preferred long-term investment in unprecedented numbers.  

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:

1. Be a Better Citizen: Select a home in a neighborhood where others share your values. Owning a home is essentially owning a part of your neighborhood. Homeowners have a stronger connection to their neighborhoods and are more committed to doing volunteer work and are more involved.

2. Pride of Ownership: Owning a home is having a space that is uniquely yours. You can customize it to your personal liking and make it reflect 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.

4. A larger living space: Face it, we’ve been cooped up for over a year now – spread your wings!

5. Provide your children a different education: Are your children stronger in a particular subject or have a talent that you would like to see them build upon? Own a home in the school zone that is perfect for YOUR child.

Financial Benefits:

1. Forced Savings: Owning a home builds 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 biggest financial goals, including retirement, building family wealth and avoiding paying someone else’s mortgage.

2. Tax Benefits: While I am no CPA, I do know that I, personally, see tax benefits from the properties that I own. Reach out to your CPA to confirm your tax benefits with homeownership.

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

4. Stability: Owning a home means having better control over your future housing payments. Over the years, a mortgage stays relatively steady, but rent costs continue to rise.

If you own your home, take time this month 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. Call or text me at (704) 491-3310 today!

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | It’s National Homeownership Month – Here are 10 Reasons to Celebrate