The City of Shoreview Celebrates National Homeownership Month: Promoting a Brighter Future
June 4, 2024
June marks National Homeownership Month, a time to recognize the significance of homeownership and its pivotal role in strengthening communities nationwide. We love our community. Shoreview is a fantastic place to build a life, raise a family, and own a business. Here, it’s common for neighbors to greet each other by name and with a smile. At the local school, park, and grocery store, people often exchange friendly greetings because that’s what community is all about - being there to support and encourage each other. Together, we make our community an amazing place to live.
It is important to us that every community member has the opportunity to put down roots and own their home. Therefore, we are regularly involved in local housing initiatives, conducting research and identifying solutions to help increase local homeownership. If you are looking for a home for your family, here are some resources to be aware of.
Why We Celebrate National Homeownership Month
The celebration of National Homeownership Month is rooted in the belief that owning a home is a cornerstone of the American Dream. Homeownership is more than just acquiring a piece of property; it represents stability, pride, and a long-term investment in one's future. Homeownership Month provides an opportunity to educate potential homeowners about the benefits and challenges of purchasing a home and highlights the need for accessible and affordable housing.
The Importance of Owning a Home
Homeownership has numerous benefits that extend far beyond the individual homeowner. Homeowners are more likely to participate in community activities, build roots, and attain financial security and wealth. The equity accumulated in a home can be a source of funds for future investments or unexpected expenses.
Homeownership can also improve children's educational outcomes, as stable housing is often associated with better school performance. Additionally, it can have positive health outcomes, as homeowners typically experience lower stress levels and a greater sense of security. NAR, or the National Association of Realtors, conducts research and analysis on the housing market and its broader effects on the economy. According to NAR calculations, one new job is supported by every two home sales.
Buying a Home in Shoreview
The City of Shoreview understands the profound impact homeownership can have on individuals and communities. As a city, we actively support initiatives that promote responsible and sustainable homeownership. Our programs and services are designed to assist potential homeowners at every step of the journey, from financial education to homebuyer assistance.
- Down Payment Assistance. The City of Shoreview offers down payment assistance for first-time homebuyers. Depending on the resident’s income, participants may qualify for zero-interest loans, fixed-interest loans, or down payment assistance due on sale.
- Construction Consultations. If you’re preparing to remodel your home or hire construction contractors, The City can help educate you on your options. Get advice for your projects, learn how to get bids, and understand how to review bids from contractors.
- Home Improvement Loans. Loans ranging from $2,000 - $50,000 are available for residents who make major home improvements. The improvements must either bring the house up to code, add value to the home, improve accessibility, or reduce energy costs. A separate loan program is available for manufactured homes.
National Homeownership Month is a time to celebrate the dream of owning a home and recognize its profound impact on individuals, families, and communities. Through the efforts of the City of Shoreview and other organizations, more people have the opportunity to experience the joys and benefits of homeownership. As we commemorate this month, we reaffirm our commitment to building more robust, vibrant communities through sustainable and inclusive homeownership initiatives.
Discover your Path to Homeownership
National Homeownership Month is the perfect time to explore purchasing a home. The City of Shoreview helps families integrate into the community through homeownership. Visit NeighborWorks Home Partners - https://nwhomepartners.org/city-of-shoreview-homeownership-programs/ - to learn how Shoreview can help.