June 19, 2018

Your Home and Your Community's Bottom Line

When you become a homeowner, you're not only making an investment in your future, you're investing in your local economy — in up to 26 ways.

Typically, you'll take advantage of 26 services when buying a home from the day you began looking for your home until closing — many of which benefit your community financially.

These include services from your local real estate agent, home inspector, appraiser, moving company, painters and more.

Did you know?

  • Every $1 million spent in home renovations generates an average of 11 local jobs.
  • Buying local keeps the money circulating within your community.
  • Strong communities with strong schools have higher property values.

What's more, it's likely you'll continue to use more local services, and patronize local restaurants and small businesses as long as you own your home — further benefitting your community. Why is this important to you? Because there is a direct correlation between the financial success of your community and the value of your home.

Homeownership also boosts a community's treasury through the collection of property taxes. This money helps support important infrastructure projects and services, such as roads, sewer systems, law enforcement, education and other community programs. This is good news for you as a homeowner since a strong community foundation will typically increase your home's value.

Be sure to visit My Home by Freddie Mac® to learn more about homeownership and follow our blog series, Why Homeownership Matters: The Triple Bottom Line, in celebration of National Homeownership Month.