American Dream

Is Home Ownership Still the American Dream?

Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about – success, freedom, and a sensse of prosperity – are universal. That’s why homeownership remains a key part of the Amerrican dream. Your home is your stake in the community, a strong financial investment, and an achievement to be proud of!

A recent survey from Bankrate asked respondents to rank achievements as indicators of financial success. The responses prove that owning a home is still important to so many Americans today.

As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.

That could be because owning a home is a significanat wealth building tool and provides meaningful financial stability. The National Association of Realtors explains…..

“Homeownership builds financial security. With 65.5% of Americans owning homes, the net worth of a typical homeowner is nearly 40 times the net worth of a non-owner.”

There are other ways your home acts as more than just a roof over your head, too. The Mortgage Reports highlights a few of the many benefits homeowners enjoy, including:

• Your equity grows through home price appreciation
• Your housing costs are fixed. That can help combat rising costs from inflation
• You’ll have greater privacy and the opportunity to customize your living space

Plus, homeowners tend to be more active in their community.

What Does That Mean for You?

If your definition of the American Dream involves greater freedom and prosperity, then homeownership could play a major role in helping you achieve that dream. When you set out to buy, know there are incredible benefits waiting for you at the end of your journey. You will have a place you call your own, feel most comfortable, and grow your wealth.

Bottom Line

Buying a home is a powerful decision and a key part of the American Dream. And, if homeownership is part of your personal dreams this year, let’s connect and start the process today! Ben Keeney 203-313-0013