Homeownership: The Heart of the American Dream

<article class="post-1109003 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-1109003"><span class="entry-date">July 4, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">Homeownership: The Heart of the American Dream</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Homeownership%3A+The+Heart+of+the+American+Dream&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhomeownership-the-heart-of-the-american-dream%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Homeownership: The Heart of the American Dream Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20240704-Homeownership-The-Heart-of-the-American-Dream-original.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width=""/>
<p>Everyone’s vision for the future is personal and unique. But for many, common goals include success, freedom, and prosperity — values closely tied to <a href="https://www.simplifyingthemarket.com/2024/06/03/more-than-a-house-the-emotional-benefits-of-homeownership/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">having your own home</a><span style="color: windowtext;"> and the iconic feeling of achieving the American Dream</span>.</p>
<p>A recent <a href="https://www.bankrate.com/mortgages/home-affordability-report/#high-housing-costs" rel="noopener noreferrer" target="_blank">survey</a> by <em>Bankrate</em> reveals exactly that: homeownership is still a part of the American Dream. The results show, at 78%, that <a href="https://www.simplifyingthemarket.com/2024/05/31/top-reasons-to-own-a-home-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">owning a home</a> tops the list, surpassing other significant milestones such as retirement, having a successful career, and more (<em>see below</em>):<a href="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240701/20240704-Which-Do-You-Consider-Part-of-the-American-Dream-original.png" rel="noopener noreferrer" target="_blank"><img alt="No Caption Received" decoding="async" src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240701/20240704-Which-Do-You-Consider-Part-of-the-American-Dream-original.png"/></a></p>
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<p>So, why is buying a home important to so many today? One reason is the <a href="https://www.simplifyingthemarket.com/2024/06/14/real-estate-is-still-the-best-long-term-investment-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">financial</a> and physical security it provides. Many people see homeownership as a way to reduce stress because owning a home with a fixed-rate mortgage stabilizes what is likely their largest monthly expense.</p>
<p>Another factor is the potential for <a href="https://www.simplifyingthemarket.com/2024/06/07/the-wealth-building-power-of-homeownership-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">building wealth</a>. That’s because, over time, homeowners gain equity as they pay down their mortgage and as home prices appreciate, leading to longer-term financial stability.</p>
<p>But what about the responsibilities that come with owning and maintaining a home? According to a survey by <em>Entrata</em>, only <a href="https://go.entrata.com/rs/223-FOQ-437/images/The-New-American-Dream-Survey.pdf?version=1" rel="noopener noreferrer" target="_blank">23%</a> of renters feel homeownership is too much work, indicating the majority are open to the commitments and obligations that come with being a homeowner.</p>
<h4><strong>What Does This Mean for You?</strong></h4>
<p>While buying a home <a href="https://www.simplifyingthemarket.com/2024/06/24/housing-market-forecast-whats-ahead-for-the-2nd-half-of-2024/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">today</a> might <a href="https://www.simplifyingthemarket.com/2024/06/19/what-you-need-to-know-about-todays-down-payment-programs/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">seem daunting</a> due to <a href="https://www.simplifyingthemarket.com/2024/06/18/worried-about-mortgage-rates-control-the-controllables/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">higher mortgage rates</a> and rising <a href="https://www.simplifyingthemarket.com/2024/06/12/home-prices-arent-declining-but-headlines-might-make-you-think-they-are/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">home prices</a>, the long-term benefits can make it worthwhile. If you’re considering homeownership, remember that it’s more than just a financial investment — it’s a step toward securing your future.</p>
<h3>Bottom Line</h3>
<p><a href="https://www.simplifyingthemarket.com/2024/06/11/savings-strategies-every-first-time-homebuyer-needs-to-know/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">Owning a home</a> is a significant and powerful decision that represents a big part of the American Dream. If you’re ready to <a href="https://www.simplifyingthemarket.com/2024/06/26/focus-on-time-in-the-market-not-timing-the-market/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">take this step</a>, start by reaching out to a local real estate agent who can guide you through the process and help you make your homeownership goals a reality.</p>
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