Did you know that June is National Homeownership Month? Enacted in 1995, this yearly observance started as just a week in June and was later expanded to the entire month of June in 2002. This month, we at InterLinc celebrate all the benefits and advantages owning a home provides Americans. Read on for some of those benefits and contact your local Loan Originator today for more information about pursuing your own goal of homeownership.
A major benefit of homeownership is the wealth-building opportunity it provides. If you purchase your home for $150K today, it could be worth a lot more than that 15 years down the road when you’re ready to sell. The equity that’s been built over time will not only benefit you, but it could potentially benefit your children and grandchildren in the future if the home is passed to them.
As many homeowners know, oftentimes your neighborhood becomes its own little community. When you get to know your neighbors and their families, you have built-in friends that live just down the street. Rental homes and apartments can often have high turnover rates year after year whereas people typically stay in homes longer.
A common myth is that renting is cheaper than buying. While that is occasionally true, it’s often false! Owning a home gives many Americans the opportunity to lower their monthly payment and get more bang for their buck in terms of square footage. Contact your local InterLinc branch today to find out what your options are on this front.
An often-understated benefit of homeownership is flexibility. Having your own place provides you with the opportunity to make the home your own through things like remodeling, updating or even just decorating and hanging things on the walls. Homes should be places of refuge and restoration and when you own your own home, you can make it whatever you’d like it to be.
Here at InterLinc, we’re proud of all the families we’ve assisted in purchasing homes. Contact us today to begin your journey.