The last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and considering a move to one that better fits their current lifestyle. Understanding how housing affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down the optimal window of time in which to make a purchase. There are three main factors that go into determining how … [Read more...]
Americans Find the Nonfinancial Benefits of Homeownership Most Valuable
Homeownership is a foundational part of the American Dream. As we look back on more than a year of sheltering in our homes, having a place of our own is more important than ever. While financial benefits are always a key aspect of homeownership, today, homeowners rank the nonfinancial and personal benefits with even higher value. Recently, two national surveys revealed the reasons homeownership is such an important part of life. The top three personal benefits of homeownership noted by respondents in Unison’s 2021 … [Read more...]
Home Is Where the Heart Is [INFOGRAPHIC]
Some Highlights There’s no doubt about it: homeowners love their homes, and that feeling has become even more important over the past year. The vast majority of homeowners say they’re emotionally attached to their home and that it has kept them safe during the COVID-19 pandemic. Owning a home provides a sense of safety, security, and accomplishment. Let’s connect to move your homeownership goals forward today. … [Read more...]
93% of Americans Believe a Home Is a Better Investment Than Stocks
A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes. Do Americans believe a home is a better investment than stocks? In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better … [Read more...]
Homeownership Is Full of Financial Benefits
A Fannie Mae survey recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today’s power-packed housing market. Here are the top four financial benefits of owning a home according to consumer respondents: 88% – a better chance of saving for retirement 87% – the best investment plan 85% – the chance to be better off financially 85% – the chance to build up wealth Additional financial advantages of homeownership included in the survey are having the best … [Read more...]
3 Ways Home Equity Can Have a Major Impact on Your Life
There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. CoreLogic indicated that equity increased for the average homeowner by $17,000 in the last year alone. ATTOM Data Solutions, in their latest U.S. Home Equity Report, revealed that 30.2% of the 59 million mortgaged homes in the United States have at least 50% equity. That doesn’t even include the … [Read more...]
6 Foundational Benefits of Homeownership Today
Over the past year, our homes have become an integral part of our lives more than ever. They’re much more than the houses we live in. They’re our workplaces, virtual schools, and safe havens that provide shelter, stability, and protection through the evolving health crisis. Today, 65.8% of Americans are fortunate enough to call their homes their own. As we continue to think about the future, our goals for the year, and what we want to achieve well beyond 2021, it’s a great time to look at the benefits of owning a … [Read more...]
Why Owning a Home Is a Powerful Financial Decision
In today’s housing market, there are clear financial benefits to owning a home: increasing equity, the chance to build your net worth, and appreciating home values, just to name a few. If you’re a renter, it’s never too early to think about how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater financial security and savings. 1. You Won’t Always Have a Monthly … [Read more...]
Owning a Home Is Still More Affordable Than Renting One
If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why. ATTOM Data Solutions recently released the 2021 Rental Affordability Report, which states: “Owning a median-priced three-bedroom home is more affordable than … [Read more...]
How to Make the Dream of Homeownership a Reality This Year
In 1963, Martin Luther King, Jr. inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where we can grow and flourish. If you’re dreaming of buying a home this year, … [Read more...]
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