Americans Still View Homeownership as the American Dream
Everyone’s interpretation of the American Dream is unique and personal. But, for many people, it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide.
A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream. The responses prove owning a home is still important to so many Americans today (see graph below):
As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.
A recent report from MYND helps shed light on why so many people value homeownership. It finds:
“. . . nearly two-thirds of Americans (65%) 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.
To further drive home the difference homeownership can make in your life, a report from Fannie Mae says:
“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.”
Especially today, this could be because, when you own a home with a fixed-rate mortgage, you stabilize what’s likely your largest monthly expense (your housing cost), and that helps combat the impact of rising costs from inflation.
What Does This Mean for You?
While it may feel challenging to buy a home today with higher mortgage rates and home prices, if the time is right for you, know that when you buy a home, incredible benefits are waiting for you at the end of your journey.
Buying a home is a significant and powerful choice, embodying the foundation of the American Dream. If you plan to make your homeownership dream a reality this year, take the first step by reaching out to a local real estate expert like Anne-Britt and start the process today.
Anne-Britt of Mountain Rose Realty is a top-tier real estate consultant based in Telluride, Colorado. With years of experience under her belt and a deep connection to the local community, Anne-Britt is your go-to expert for all things real estate in Telluride. Whether you’re buying or selling a home, she provides comprehensive services every step of the way, from providing market analysis to helping you understand the legal aspects of any transaction. She will also ensure that your needs are met when it comes to pricing and negotiating with buyers and sellers.
Anne-Britt understands the complexities and nuances of Telluride real estate, having grown up in the area and remaining deeply rooted in the local culture. She has a keen eye for detail that can help you get the best deal possible for your home sale or purchase. In addition, her extensive knowledge about city regulations, zoning laws, tax codes and more can provide invaluable guidance as you navigate through the process.
Whether you’re considering making Telluride your permanent residence or looking to invest in vacation property, connecting with an experienced local real estate agent like Anne-Britt at Mountain Rose Realty can be invaluable. She is committed to providing top-quality service that helps make sure all your needs are met throughout the process so that you have the best possible outcome when it comes time to close on a home sale or purchase.