By Geoff Ramsey, CRS, GRI
President, Greater Chattanooga REALTORS®
June marks National Homeownership Month, which recognizes the value of homeownership and its positive impact on families, communities, and the nation’s economy. This month allows a time to celebrate and promote the American Dream of homeownership and identify the many benefits of owning that roof over your head.
Most consumers know that homeownership is among the soundest investments an individual can make to begin building their personal wealth. However, owning a home is not just the best interest of the homeowner. Homeownership provides social stability, builds communities, and is a driving force for the national economy. Realtors care about our communities and are dedicated to advocating for the protection of private-property rights and making a difference by volunteering and securing grants for improvement.
Below are some of the benefits of reaching the American Dream:
Brings families together: Along with being more involved in their communities, homeowners are often active and connected to their own families. Family dinners and game nights at home could mean a more-connected, happier family.
Social stability: Improved educational performance, lower crime rates, and improved health are a few social benefits linked to homeownership. Homeownership allows households to accumulate wealth, which opens doors to more engagement in communities through volunteer work, involvement in social activities, and electoral participation.
Strong communities: Homeowners tend to stay in their homes longer than renters, dedicate more money to improve their home, and are more engaged in enhancing their community. Homeowners are often more invested in their home and their surroundings which leads to stronger neighborhoods and communities and increased interaction between neighbors.
Economic force: Being a homeowner also has a positive local and national economic impact. That is because homeownership creates jobs through remodeling, landscaping, lawn service, furniture and appliances, home improvement, and real estate services. When a home is sold in the United States, the income generated from real estate-related industries is over $20,000 and additional expenditures on consumer items is about $4,500 – a boom to the economy.
Home is where people make memories and feel comfortable and secure. Homeownership Month is an opportunity to reiterate that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream and enjoy the many benefits that come along with it. As your voice for real estate in The Gig City, Greater Chattanooga Realtors will continue advocating for our communities by working closely with public officials and doing our part to protect the private-property rights of homeowners.
Join the celebration on social media with #HomeownerHero and you could be featured by the National Association of REALTORS®. Learn more about National Homeownership Month and keep up with house-related tips, news, stories, and policy issues through Homeownership Matters (homeownershipmatters.realtor) and HouseLogic (houselogic.com).
For more information about buying or selling a home, contact Greater Chattanooga REALTORS® to speak with a REALTOR®.