With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. [Read more…]
More than ever, our homes have become an integral part of our lives. Today they are much more than the houses we live in. They’re evolving into our workplaces, schools for our children, and safe havens that provide shelter, stability, and protection for our families through the evolving health crisis. Today, 65.3% of Americans are able to call their homes their own, a rate that has risen to its highest point in 8 years.
June is National Homeownership Month, and it’s a great time to reflect on the benefits of owning your own home. Below are some highlights and quotes recently shared by the National Association of Realtors (NAR). From non-financial to financial, and even including how owning a home benefits your local economy, these items may give you reason to think homeownership stretches well beyond a sound dollars and cents investment alone.
Owning a home brings families a sense of happiness, satisfaction, and pride.
- Pride of Ownership: It feels good to have a place that’s truly your own, especially since you can customize it to your liking. “The personal satisfaction and sense of accomplishment achieved through homeownership can enhance psychological health, happiness and well-being for homeowners and those around them.”
- Property Maintenance and Improvement: Your home is your stake in the community, and a way to give back by driving value into your neighborhood.
- Civic Participation: Homeownership creates stability, a sense of community, and increases civic engagement. It’s a way to add to the strength of your local area.
Buying a home is also an investment in your family’s financial future.
- Net Worth: Homeownership builds your family’s net worth. “The median family net worth for all homeowners ($231,400) increased by nearly 15% since 2013, while net worth ($5,000) actually declined by approximately 9% since 2013 for renter families.”
- Financial Security: Equity, appreciation, and predictable monthly housing expenses are huge financial benefits of homeownership. Homeownership is truly the best way to improve your long-term net worth.
Homeownership is even a local economic driver.
- Housing-Related Spending: An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country’s economic activity over the past three decades.
- GDP Growth: Homeownership also helps drive GDP growth as the country aims to make an economic rebound. “Every 10% increase in total housing market wealth would translate to approximately $147 billion in additional consumer spending, or 0.8% of GDP, as well as billions of dollars in new federal tax revenue.”
- Entrepreneurship: Homeownership is even a form of forced savings that provides entrepreneurial opportunities as well. “Owning a home enables new entrepreneurs to obtain access to credit to start or expand a business and generate new jobs by using their home as collateral for small business loans.”
The benefits of homeownership are vast and go well beyond the surface level. Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact on your local economy. If owning a home is part of your dream, let’s connect today so you can begin the homebuying process.
With several weeks of social distancing under our belts, many of us have already tackled boredom-curing activities like spring cleaning, exercising, baking, and doing puzzles. We’ve previously shared ways to keep the kids amused, but we couldn’t forget about the adults! From organizing a virtual murder mystery party to learning how to bartend, here are nine activities you can enjoy now.
Host a Game Night
Organize a virtual Jeopardy! night with friends using an online template. You can build your very own game with custom questions or use templates created by other people. All you have to do is share your screen with players on Zoom and keep track of their scores. Rotate who hosts each week, and you’ve got yourself a standing game night.
Attend a Virtual Event
Join a virtual festival, watch a live comedy show, or learn about wine from the comfort of your couch. Businesses and leaders throughout Chicago are hosting an array of virtual events that give you the opportunity to meet new people, learn something new, or just be entertained. Checkout Choose Chicago’s roundup of upcoming events here.
Grab your sleeping bag and tent and head to the backyard for an evening under the stars. If you do not have outdoor space, convert your living room into a campsite. Set the ambiance by streaming a campfire on your TV or phone, and don’t forget about the s’mores, which you can easily make in the oven.
Become a Better Bartender
Miss your favorite bartender’s perfectly crafted cocktails? Bartenders across the country are helping you up your at-home bar game by teaching you all the tips, tricks, and recipes you need to elevate Happy Hour. When all else fails, you can always order a cocktail kit from a local restaurant or bar.
Take a Tour
Your travel plans may be on hold for now, but Google Earth still has your back. Tour dozens of national parks and see some of the country’s best views and natural landscapes without leaving the house. Take note of your favorite spots and start planning a future in-person trip.
Learn Something New
There is no time like the present to learn a new skill or subject. Whether you want to take on a new language, master the art of stand-up, or become a poet, there are plenty of online resources to help you take advantage of your free time. Learn from the best of the best in acting, writing, photography, leadership, entrepreneurship, and more from classes taught by the likes of Robin Roberts, Serena Williams, Annie Leibovitz, and Sara Blakely on MasterClass.
Catch a Live Show
Although our favorite music festivals have been cancelled or postponed this summer, you can still take in some live music courtesy of Lollapalooza’s Lolla From the Vault. Streamed on YouTube, Lolla From the Vault brings a different iconic performance from past years’ festivals every Thursday at 7:00 pm CT. You can also check out live performances from the Millennium Park Summer Music Series and Ravinia Festival.
Organize a Murder Mystery Party
You can’t invite your friends over for a murder mystery party right now, but you can use Zoom to experience a thrilling evening of mystery and crime with the help of Red Herring Games. Pick from Red Herring’s many, and often hilarious, storylines such as “The Great British Bump Off” and “Death Actually,” and choose the virtual option when you download the game. From there, assign characters to your participants, and you are ready to go.
Netflix and Enjoy Together
Take movie night to a new level by downloading Netflix Party, which synchronizes everyone’s videos so you and your friends can watch your favorite films or shows at the same time. Netflix Party even adds a group chat feature so you can easily express your “oohs,” “ahs,” and “no ways!” throughout your viewing.
With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate. [Read more…]
Wishing you and your family a safe and happy Memorial Day as we remember and honor those who have given their lives for our country.
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One of the biggest questions we all seem to be asking these days is: When are we going to start to see an economic recovery? As the country begins to slowly reopen, moving forward in strategic phases, business activity will help bring our nation back to life. Many economists indicate a recovery should begin to happen in the second half of this year. Here’s a look at what some of the experts have to say. [Read more…]