Every family has a list of important dates. We celebrate birthdays, anniversaries, pet adoptions and the list goes on. For 64.4 percent of households in the United States, this list includes the day they became a homeowner for the first time!

Why is this date important? Homeownership is not just a roof over your head — it represents shelter, stability, wealth, and pride! For decades, homeownership has been an important part of the American Dream! And with the help of a real estate agent, many are able to find the perfect home for them.

However, many question if the next generations see the same benefits of homeownership as their predecessors.

In case we have forgotten, some of those benefits are:

Non-Financial Benefits

  1. Educational Achievement: Homeownership has a positive impact on academic achievement, including reading and math performance in children three to 12 years old.
  2. Civic Participation: “Owning a home means owning a part of the neighborhood.” Homeowners have a stronger connection to their neighborhood and are more committed to volunteering.
  3. Health Benefits: Adjusting for a range of demographic, socioeconomic, and housing-related characteristics, homeowners have a substantial health advantage over renters.
  4. Public Assistance: The report shows 47 percent of homeowners use their home equity credit lines to help pay other debts, diminishing their need for public assistance.
  5. Property Maintenance and Improvement: A well-maintained home not only generates benefits through consumption and safety, but a high-quality structure also improves mental health.
  6. Pride of Ownership: This place is uniquely “yours.” You can customize it according to your likes and personality.

In addition to financial benefits, homeownership also brings significant social benefits. These not only pertain to the family, but extend to the communities, the state, and the country!

If you’re ready to become a homeowner in the Denver area, contact SRT Lifestyle Investments to hire a real estate agent.

Financial Benefits

Buying a home is an investment in your future!

  1. Appreciation: On average, home prices are appreciating annually at a rate of 3.6 percent. This helps to create a safety net.
  2. Forced Savings: Your mortgage is like a forced savings plan! With each payment, you are reducing the principal of your loan.
  3. Home Equity: Homeownership builds equity every single month. You can later use that equity to start a business, send your children to college, etc.
  4. Net Worth: A homeowner’s net worth is 44 times greater than renters! This gives you the financial freedom to invest.
  5. Stability: Rent prices increase 4 percent annually! A fixed mortgage payment allows you to save for future projects and guard against inflation.
  6. Tax Benefits: The government has created tax benefits to encourage customers to purchase. (Talk to your CPA to see which benefits apply to you).

The Bottom Line

Homeownership is and will always be a part of the American Dream! There are many financial and non-financial benefits to take advantage of when owning a home. If owning a home is part of your dream, contact a real estate agent at SRT Lifestyle Investments in Denver to help you with the process!