Empowering Steuben County, Indiana's Future: The SCEDC Celebrates National Homeownership Month

Even with higher interest rates, buying a home in Steuben County, IN, is a financially sound decision. The median home price in the US is $393,500, but in Steuben County, it's only $316,950—almost 20% lower. Moving to Steuben County is a smart choice for prospective homebuyers who want financial stability and a promising future.

June is National Homeownership Month, a time to reflect on the importance of owning a home and its role in strengthening communities nationwide. Throughout this month-long celebration, we recognize homeownership's many benefits to families, neighborhoods, and local economies. The Steuben County Economic Development Corporation (SCEDC) proudly joins this celebration by highlighting homeownership as a pathway to stability and prosperity.

Why We Celebrate National Homeownership Month

National Homeownership Month honors the belief that owning a home is fundamental to the American Dream. It symbolizes not just property ownership but stability, pride, and a lasting investment in the future. This month serves as a platform to educate aspiring homeowners about the rewards and hurdles of buying a home while emphasizing the importance of affordable and accessible housing options for new homebuyers.

Owning a Home is More Than Just Shelter

Owning a home goes beyond having a place to live; it's a symbol of pride, an achievement, and a foundation of stability for you and your family. Homeownership offers financial benefits, including tax deductions and usually lower monthly mortgage payments compared to long-term rent. Additionally, buying a home is considered a top long-term investment, with residential real estate typically appreciating by 3 to 5% annually.

Homeownership has numerous benefits that extend far beyond the individual homeowner. It plays a pivotal role in fostering vibrant and resilient communities. It contributes to the growth of the community tax base, which in turn can reduce the tax burden on individuals. Research indicates a direct correlation between higher homeownership rates and lower crime rates, highlighting the positive impact of stable housing on neighborhood safety. By choosing to buy a home in Steuben County, you're not just investing in your future. You're investing in the future of our community.

Homeowners also tend to be more engaged in their communities. They volunteer more frequently, support local businesses, and contribute to the economy. Additionally, homeowners are more likely to participate in civic activities and elections, crucial for a thriving democracy.

The National Association of Realtors (NAR) researches the housing market and its economic effects. According to NAR, every two home sales support one new job, illustrating the far-reaching economic benefits of homeownership.

Steuben County Economic Development Corporation's Support for Homeownership and Community Development

The SCEDC is committed to making homeownership a reality for individuals and families in Steuben County. As a leading economic development corporation, 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.

• Community Development Initiatives: Our organization supports community development projects that create attainable housing opportunities and improve local infrastructure, contributing to the overall quality of life.
• Financial Education: The SCEDC, in collaboration with our partners, provides access to workshops and resources to help potential homeowners understand the economic aspects of purchasing a home, including budgeting, credit management, and mortgage options.
• Collaboration with Local Stakeholders: We work closely with local government agencies, financial institutions, and real estate professionals to create a supportive network for prospective homeowners.

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 organizations like the SCEDC, 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

Are you ready to take the first step towards homeownership? National Homeownership Month is the perfect time to explore purchasing a home in Steuben County, IN. The Steuben County Economic Development Corporation is here to help you integrate into our vibrant community through homeownership. Visit our housing page or contact us to start your journey today.