We each have our own idea of the American Dream, for some it’s about freedom, for others it’s success – but most still see Homeownership as their American Dream.
Nearly two-thirds of Americans see homeownership as a means of building intergenerational wealth. That’s because when you own a home, your equity and net worth grows over time as you pay down your home loan and as home prices appreciate. This can be a key factor in building intergenerational wealth and long term financial stability.
A recent report from Fannie Mae shows, “Most consumers (87%) believe owning a home is important to ‘live the good life.’ . . . Notably, significantly more see ‘having less stress’ as a benefit achieved by owning than renting.” This is largely due to the fact that buying a home with a fixed rate mortgage, will help stabilize what is likely your largest monthly expense, (housing costs), and that helps combat the impact of rising costs due to inflation.
Homeownership and the American Dream, may feel challenging today with higher mortgage rates and higher home prices, but if the time is right for you – incredible benefits are waiting for you at the end of your journey.
Buying a home is a significant and powerful choice, and sets at the very foundation of the American Dream.
Are you planning on making your homeownership dream a reality this year? Let’s connect to see how your goal of homeownership fits in this market.
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