By Zachary Rankin
Huntington Board of REALTORS®
The cornerstone of the American Dream, ownership of a home, guides individuals to a more stable and fulfilling future. The benefits can go far beyond having your own place. Homeownership can be a step forward toward financial security, emotional well-being, and stronger community bonds.
The first significant advantage to homeownership remains the long-term financial stability it can create. While renting, the cost can increase frequently and offer no return whereas mortgage payments generally remain consistent with fixed rate loan terms. Over time, a homeowner builds equity that grows as the loan is paid down and property values increase. By showing this to clients who may rent, you could help them toward building a more stable future for themselves and their families.
The next advantage to homeownership is a sense of emotional well-being. There’s often a deep and unique sense of pride that comes from owning a home. It gives one the ability to shape their own environment, create memories, and establish roots. The sense of permanence and safety that can develop from owning a home can be powerful in an ever changing society.
Lastly, homeownership does not only strengthen individuals but entire communities. Homeowners are engaged in local schools, community programs, events, and more. This can help a community grow socially and economically. Studies have shown that homeownership can lead to reduced rates of crime, higher property values, and better access to public services.
As REALTORS®, it is our duty to promote the importance of what homeownership can do for our customers and clients. During the National Association of REALTORS® homeownership month is a great time to use these stats and your skills to help change lives and promote our profession.
