Why Homeownership?

As a first time buyer you have likely thought a great deal about why you want to own a home.  Or perhaps you just think it’s a good idea but have not considered the various reasons why. Here are a few…

1. Homeownership is the fulfillment of the American dream.

2. Owning a home is one of the best ways to accumulate wealth

3. It provides shelter and security for you, and for your family or friends

4. Being in a home fosters community involvement and participation in varous democratic institutions

5. There can be significant tax advantages to owning a home

6. Being a homeowner with a mortgage can significantly improve your credit (provided, of course, that you make all payments in a timely manner)

7. Owning a home provides an incentive for people to care about social and economic issues, and to stay abreast of local government actions

8. Homeowners are more likely to vote and to volunteer time for political and charitable causes

9. Homeownership contributes to neighborhood stability, as owners tend to move less frequently than renters

10. Owning a home can contribute to a greater sense of self esteem and well-being, and the pride of having something you are responsible for.