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6.23.2022 / Home Sweet Home

10 Fun Facts for National Homeownership Month 2022

June is National Homeownership Month, and we’re celebrating! Homeownership is more than a cost-effective purchase— it’s the cornerstone of the American Dream. Owning a home is a physical manifestation of all your hard work over the years. Not only is homeownership a financial milestone, but it’s also an emotional milestone as well. Whether it’s your first or forever home, your house becomes the background of your celebrations, holidays, and everyday life.

Really, homeownership is foundational to the human experience, and Gateway is elated to be a part of it for so many people. To celebrate, we are sharing some fun facts about homeownership:

  1. In the 1930s, it was perfectly normal for even upscale families to have just one bathroom. Now the average number of bathrooms in a new home is three!

  2. Most people are waiting to purchase their first home. The average age for a first-time homebuyer is now 36 years old! In the 1970s and 80s, most first-time homebuyers were around 29-30 years old.

  3. Painting a front door black or gray can increase a home’s value by at least $6,271. With the average price of a quart of paint around $20, this seems like a good investment to us!

  4. More than two-thirds of homeowners say they would pass up the “perfect home” if it’s not a good fit for their dog.

  5. There were more first-time home buyers in history – over 2.38 million of them in 2020!

  6. The median size of a new home in the United States in 2019 was 2,322 square feet, which is 522 square feet (about twice the area of a parking space) larger than 20 years ago.

  7. Given a choice between living in a haunted house or living within a mile of a waste management facility, almost half would choose the haunted house.

  8. According to early American tradition, a red door means “welcome.” People traveling by horse and buggy would look for homes with red doors because they were safe places to stay the night.

  9. Around a third of home sellers initially try to sell their homes themselves as a For Sale by Owner listing, but only about 10% of them end up selling their home without the help of a real estate agent.

  10. After being referred to as, the “President’s Palace” and the “Executive Mansion,” President Theodore Roosevelt officially gave the White House its current name in 1901.

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