Growth Dimensions Economic Development Celebrates Homeownership
22 Jul 2021
Growth Dimensions Economic Development celebrates homeownership by raising awareness about the benefits that homeownership brings to families, neighborhoods and communities alike. The real estate market is thriving, and Growth Dimensions Economic Development and local Realtors? are striving to make homeownership a reality for individuals who dream of owning their own home. Learn more about why homeownership matters and how you can become a homeowner too.
Boone County is a Great Place to Own a Home
Homeowners in Boone County have access to unmatched professional and personal experiences, with its close proximity to major metropolitan areas, unique shopping experiences, world-class dining, international airports and renowned sports and entertainment. Boone County has an abundance of resources for potential home buyers. The Rockford Area Realtors?, and specifically the Boone County Chapter are experienced and knowledgeable resources able to help prospective homeowners make informed choices on how, where and when to buy. The Rockford Area Realtors? website is an excellent place for both consumers and realtors to start when looking for available homes or finding a REALTOR? to assist with that search, education on the home-buying process or general resources needed to make the process easy and understandable.
Why Homeownership Matters
Owning a home is a cornerstone of the “American Dream.” With homeownership, comes a sense of pride, financial stability and equity. Many homeowners benefit from tax deductions and affordable monthly mortgage payments that are lower than the average rent. Buying a home is considered one of the best and most reliable long-term investments because residential real estate tends to rise in value over the long haul. In addition to the personal benefits, homeownership plays an important role in sustaining prosperous and stable communities.
Homeownership is a vital part of the Boone County community and Growth Dimensions Economic Development offers a wealth of information at its Boone County Community webpage. Homeownership grows the community tax base, reducing the individual’s tax burden. Research shows that higher homeownership percentages directly correlate with lower crime rates. Homeowners tend to volunteer more, buy more goods and services from local business owners, support local educational systems and benefit the economy more overall. Homeowners are even more likely to be involved in local civic engagements and elections. An additional benefit of homeownership for the community is that one new job is supported from every two home sales, according to NAR calculations.
Owning a home is widely regarded as one of the best ways to build wealth. Home prices continue to rise, resulting in a higher resale value. According to a June 2021 press release from Rockford Area Realtors?, the three-month rolling average price of a home sold in Winnebago, Boone and Ogle Counties in May went up 17.8% from $143,344 last year to $168,894 this year. This was the highest ever average price for homes sold in the Rockford region. Mortgage rates are low and steady, presenting a unique opportunity for homebuyers to purchase with a lower monthly payment. Homeownership has many benefits, but it has to be sustainable for the buyer. Growth Dimensions Economic Development can simplify the process and assist you on your journey to making this dream a reality. Boone County properties available today can be found here.
Now is the perfect time to explore purchasing a home! Growth Dimensions Economic Development is in the business of helping families become part of the community. Visit Growth Dimensions Economic Development or call 815-547-4252 to learn how we can help.