June is National Homeownership Month, and it’s a perfect time to reflect on what owning a home really means. Your home is more than a roof over your head—it’s a place where memories are made and your personal style shines.

**Non‑Financial Benefits of Homeownership**

• **Pride of ownership:** You can customize, decorate and truly make your home an extension of who you are.
• **Property upkeep and improvement:** Homeowners tend to care for and invest in their homes, improving comfort and value over time.
• **Community engagement:** Owning your own place often leads to deeper involvement in your neighborhood and local civic life.

**Financial Benefits of Homeownership**

• **Net worth growth:** According to the Federal Reserve, the median net worth of homeowners is around $231,000—nearly 15% higher than a decade ago—while renters’ median net worth is about $5,000 and has declined.
• **Long‑term security:** Home equity builds over time and provides a stable asset. A typical homeowner’s net worth is over $255,000 compared with just $6,300 for renters.

**Economic Benefits of Homeownership**

• **Housing‑related spending:** A stronger housing market fuels the broader economy; every 10% increase in housing wealth can add roughly $147 billion in consumer spending (about 0.8% of GDP) and boost tax revenues.
• **Boosting the economy:** The housing sector supports jobs and economic growth, so healthy home sales contribute directly to GDP.
• **Entrepreneurship:** Homeowners can tap home equity to fund or expand small businesses, using their property as collateral.

**Bottom line**

The benefits of owning a home go far beyond the financial. Homeownership provides stability, personal satisfaction and a deeper connection to your community, while also fueling economic growth. If you’re considering buying or have questions about what homeownership could mean for you, connect with our team today for personalized guid

Ready to take the next step? Connect with us today.