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How Homeownership Builds Generational Wealth – A Message for National Homeownership Month

June 25, 2025 by Kay Monigold

June is National Homeownership Month, a time to celebrate the lasting impact that owning a home can have on individuals and families. One of the most powerful benefits of homeownership is the ability to build equity. As you make mortgage payments, you are gradually increasing your ownership stake in the property. This equity becomes a form of forced savings and can be used in the future for things like education, home improvements, or retirement. Unlike rent, which builds no future value, mortgage payments create wealth over time.

Appreciation Adds Long-Term Value
In addition to building equity, homes tend to increase in value over time. While housing markets may experience short-term fluctuations, real estate has historically appreciated over the long run. That increase in value can significantly boost your net worth. When it is time to sell or refinance, the appreciation can turn into real dollars that provide financial flexibility and long-term opportunity.

Leverage and Financial Growth
When you buy a home, you are leveraging a relatively small amount of money to purchase a much larger asset. For example, with a small down payment, you are able to control the full value of the property. As that property appreciates, your return is based on the full value of the home, not just your initial investment. This kind of financial leverage is a major reason why homeownership is such an effective wealth-building tool compared to renting.

A Legacy for the Next Generation
Homeownership is also a way to create financial security for future generations. Passing down a home to children or grandchildren can provide them with a strong start in life. Even if you choose to sell the home later, the equity gained can help fund education, support a family business, or assist with a loved one’s home purchase. That ability to pass on value is what turns homeownership into a legacy.

More Than Just Money
Beyond the financial benefits, owning a home brings stability and a deep sense of pride. It creates consistency in family life, helps children remain in the same schools, and fosters a sense of belonging in the community. These emotional benefits reinforce the lasting value of homeownership and make it more than just a financial milestone.

Celebrate with Purpose
National Homeownership Month is the perfect time to reflect on the bigger picture. Homeownership is not just about the keys in your hand today. It is about what those keys unlock for your family’s future. If you are considering buying a home, now is the time to learn more about your options and start planning for a future that benefits you and those who come after you.

Filed Under: Mortgage Tips Tagged With: Family Legacy, Generational Wealth, National Homeownership Month

Renting vs. Owning the National Homeownership Month Edition

June 24, 2025 by Kay Monigold

June is National Homeownership Month and there is no better time to look at the long-term financial benefits of owning a home compared to renting. As a mortgage professional, I often speak with clients who are unsure whether to keep renting or make the leap into homeownership. The decision can feel overwhelming, but when you break down the numbers and look at the bigger picture, the advantages of buying a home are clear.

Monthly Payments Are an Investment Not an Expense
When you rent, your monthly payment goes straight to your landlord. You are covering their mortgage, not building anything for yourself. With a mortgage, your payment builds equity. A portion of what you pay each month goes toward owning more of your home. Over time, you are investing in your own future instead of someone else’s.

Take a $1,800 rent payment for example. That adds up to more than $21,000 per year with nothing to show for it at the end. Now compare that to a $1,800 monthly mortgage payment on a $275,000 home with a fixed interest rate. Not only are you paying toward ownership, but your home’s value is likely to increase over time.

Stability in Payments and Lifestyle
One of the biggest financial frustrations renters face is rising rent. Landlords can increase rates annually, making it hard to plan for the future. With a fixed-rate mortgage, your principal and interest payments stay the same for the life of the loan. This consistency makes budgeting easier and protects you from inflation-related cost increases.

Homeownership also brings lifestyle stability. You do not have to worry about a landlord deciding to sell or end your lease. You have the freedom to settle in, decorate how you want, and create a true sense of home.

Tax and Financial Benefits That Add Up
Owning a home may also offer valuable tax advantages. Mortgage interest and property taxes may be deductible depending on your situation. Homeowners may also qualify for other deductions or credits, especially in the early years of a mortgage when interest payments are higher.

Additionally, the equity you build can serve as a financial cushion. Whether you use it to fund education, make home improvements, or consolidate debt later on, that equity can be a smart asset over time.

Wealth Building Over the Long Term
Historically, real estate appreciates in value. Even with market ups and downs, home values tend to increase over the long term. That means that in addition to building equity through your monthly payments, you may also gain value simply by owning your home.

Renters miss out on this opportunity. While their housing costs continue to rise year after year, homeowners often see their wealth grow.

Celebrate Homeownership by Exploring Your Options
National Homeownership Month is the perfect time to ask whether renting is still serving your long-term goals. If you are ready to explore what homeownership could look like for you, we would be happy to help you review mortgage options, estimate your buying power, and create a plan to make owning a home a reality.

Filed Under: Mortgage Tips Tagged With: Homeownership Matters, National Homeownership Month, Rent vs Own

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Our Team

Kay MonigoldKay Monigold
Owner/Mortgage Broker/Residential Mortgage Loan Originator
NMLS#1086176

Steven LoweSteven P Lowe, Sr
Residential Mortgage Loan Originator
NMLS #1085638

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