Danielle Takes Pride In Homeownership
For years, Danielle has wanted to become a homeowner. She’s worked hard to get her finances in order to buy her very first home. However, she’d been having a hard time finding the right fit.
“I’ve went through many houses,” says Danielle. “But nothing I liked fit in my budget.”
Over the last 20 years, housing prices in the metro Milwaukee area have risen more than 72%. Even though she was pre-qualified, the homes Danielle was finding in her budget were not suitable for a family, needed a lot of work, or both.
Danielle has been renting an apartment where rent recently jumped to $900 per month. The rate hike is a familiar occurrence for all too many Milwaukee renters.
“I’m tired of renting,” Danielle says. “I gave so much money in rent that when you add it all up, I could have paid down a house by now.”
When Danielle discovered Habitat for Humanity, she found she could build a brand new three bedroom home for less than she’d been spending on rent. She’s already got plans to make it her own. Danielle wants to plant a vegetable garden where she can harvest her own fresh produce.
“I love to cook,” she says. “Now I’ll be able to have family gatherings – Thanksgiving, Christmas, grandkids’ birthday parties.”
Danielle hopes that by investing in this home, she’ll not only have an asset to pass down to future generations, but also use it as inspiration. She wants to show her children that the dream of homeownership is not out of reach.
For many in this country, homeownership has been a driver for generational wealth creation. U.S. homeowners have an average net wealth that is 400% higher than that of renters with similar demographics and earnings.
As for Danielle, she plans to be in the home for the long-term. She wants this new home to be known throughout her family as “grandma’s house.” Somewhere her kids and grandkids can feel safe, comfortable and loved.
“It’s my home and I’m going to take a lot of pride in that,” she says.