Shoreview Celebrates National Homeownership Month
16 Jun 2021
The City of Shoreview celebrates National Homeownership Month during June by raising awareness in all aspects involving owning a home. The real estate market is thriving, and this is an excellent time to make homeownership a reality for individuals who dream of owning their own home in Shoreview. Homeownership brings many benefits to families, neighborhoods and communities alike. Learn more about why homeownership matters and how you can become a homeowner too.
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 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.
Shoreview is a Great Place to Own a Home
Shoreview offers excellent opportunities to own a home and those currently available can be found here. According to the May 2021 Market Update of the St. Paul Area Association of Realtors, the median sales price in 2021 for Shoreview is $320,200 with a variety of housing types available. There are large executive homes with three-car garages, split-levels, and ramblers that are affordable for first-time homebuyers, lakefront properties in all sizes, townhomes, and condos, ideal for young professionals and retirees. Rental units in the city range from modest units to new apartment complexes with a full host of amenities.
Shoreview showcases a high quality of life to supplement homeownership as a distinctive and vibrant community recognized nationally as one of the most desirable places to live, work, and do business. Residents enjoy a short commute to jobs found both in Shoreview and just minutes away in the downtown metro areas of Minneapolis and St. Paul via two interstates. A county highway and Metro Transit services connecting Shoreview to other communities throughout the metropolitan area as well.
Shoreview is known for offering students the highest quality of education. U.S. News and World Report have ranked two of the local high schools, Mounds View High School and Irondale High School, in the top 10 percent of schools in the country. Located in a natural setting of lakes, open spaces, award-winning parks, and trail systems, Shoreview consistently receives some of the highest quality of life rankings in the Twin Cities region. It has previously been named as one of the “Ten Best Towns in America to Raise a Family” by Family Circle Magazine.
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. 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. The City of Shoreview can simplify the process and assist you on your journey to making this dream a reality with our down payment assistance program or our home loan improvement program.
National Homeownership Month is the perfect time to explore purchasing a home. The City of Shoreview is in the business of helping families become part of the community. Visit our website or call 651-490-4680 to learn how we can help.