Each June during National Homeownership Month, we reflect on the value of homeownership.
Smarter, Happier & Healthier
Americans strongly support homeownership, with good reason. Becoming a homeowner makes families smarter, happier, healthier, and wealthier. In a recent study, homeowners also reported improvement in their children’s well-being, school performance, attendance and higher participation in extracurricular activities.
Buy a Home, Create a Job
The housing market recovery has done more than add wealth and bring happiness to U.S. homeowners; it has also added jobs. According to a recently released report, after experiencing heavy job losses during the recession, the construction industry is building up its headcount again. Since 2011, the U.S. has added more than 187,000 construction jobs, an increase of 2 percent.
The Dream Continues
According to a recent survey, while 66% believe housing is a good financial investment, 75% see it as an important part of raising a family. A total of 87% of respondents said owning their home is something they have always wanted.
Become a Homeowner
It all begins with a plan. If owning a home is one of your goals, there are a lot of questions to ask yourself:
- Are you ready? In order to qualify for a mortgage, you need a steady and reliable source of income and an established bank account. I will also review your credit report to establish that you pay your bills on time and manage your debt well.
- How much can you afford? Homeowners pay taxes, insurance and must be able to maintain the purchased property. When calculating your total monthly expenses, make sure you include regular payments that may not be reflected on your credit report, such as child care, groceries, and entertainment. Be honest with yourself about how much you can afford to pay each month now, to avoid any financial difficulties later.
- Where do you start? Contact me to discuss your unique financial situation and learn more about the road to homeownership. When you apply online, I will be in contact with you as soon as possible to discuss your options.
