This month, the housing industry celebrates the many benefits of owning a home. Despite the downturn in the housing market, families continue to seek to achieve the American Dream of homeownership and take their place among the more than 74 million Americans that own a home.
The value Americans place on owning their home continues even through times of economic hardship. Home appreciation over the long term builds financial security for a family’s future.
But the value of homeownership can be much more than financial. Owning a home can often be a lifestyle improvement, enabling a family to enjoy a neighborhood, features and other amenities that suit their present and future day-to-day activities.
Newly-constructed houses can deliver energy efficiency, storage space, well-designed floor plans, and the latest technologies in electrical systems and appliances. A new home also comes with the peace of mind of little maintenance needed and a warranty against defects.
Existing homes offer neighborhoods whose character has already been established, mature landscaping with tall trees, and an existing selection of businesses and services for the home owner to use. If the home isn’t already a great fit to the buyers’ taste, it can be renovated to reflect the new owners’ needs and preferences.
Homeownership lets families build connections. Owners take pride in their homes, and develop friendships with other people who also own homes and care about the neighborhood. A home is a place where families make a sanctuary that feels comfortable and safe, and where they develop social networks, begin friendships and create memories that will last a lifetime.
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