ST. AUGUSTINE BEACH, Fla. — As coastal builder Generation Homes celebrates National Homeownership Month, more than two-thirds of Americans believe that owning a home is an essential part of the American Dream.
This year’s theme is “Find Your Place.” Along with the Economic Growth, Regulatory Relief and Consumer Protection Act and this past year’s tax reform bill, new research shows a household’s primary residence is its largest asset and continues to provide an important building block for long-term financial security.
“The latest Survey of Consumer Finances, published by the Board of Governors of the Federal Reserve System, reports that the primary residence accounts for about one-quarter of all assets held by households in 2016, ahead of other financial assets, business interests and retirement accounts,” noted custom home builder Cora Johnston, president of Generation Homes.
Generation Homes, specializing in oceanfront and coastal homes and remodeling, has created a unique dialogue with new homeowners on the local level. It begins with Johnston hearing what new homeowners want in their home. Vision, idea, dream – call it what you will. Johnston and the Generation Homes team never forgets whose home they are building.
So, June being New Homeowners Month fits right into that basic philosophy.
Generation Homes builds custom homes in Sea View and premier communities along the First Coast from South Ponte Vedra Beach to Hammock Beach, including Vilano Beach, Davis Shores, Pelican Reef, Anastasia Dunes, Magnolia Dunes, Marsh Creek, Sea Colony, Sea Grove, and Whispering Oaks and the Hammock on coastal private lots.
“When a family moves to the beach and buys a new house, they will likely shop at local stores to buy furniture and accessories to decorate the home,” noted Johnston. “They will fill their car’s gas tank at local gas stations, so they can get to the stores, have local mechanics work on the car when it breaks down or needs the oil changed, or buy a new car at a local dealer when it’s time to replace the old one.”
According to economists at the National Association of Home Builders, the one-year estimated local impacts of building 100 single-family homes in a typical metro area include $28.7 million in local income, $3.6 million in taxes and other local government revenue, and 394 local jobs.
That view from 30,000 feet only supports the personal side of owning a new home.
Children will enroll in local schools. This increases enrollment, meaning more teachers, janitors, cafeteria workers and other school support staff will need to be hired. Those kids will also join sports leagues and other activities, buy equipment and pay registration fees that provide stipends for referees and coaches.
And families do grow.
Generation Homes’ GrowHOME concept is to plan for growth and change in a home during the design phase so future additions and renovations are pre-engineered into the home, making it easier and more cost effective to make those changes when the time comes.
“Our goal is to help our customers plan for their future with their home,” Johnston said. “Even if a customer thinks this is the last home they’ll ever own; our experience tells us nothing stays the same forever. Adding ‘grow’ spaces to a custom plan is a natural fit because lives are always evolving, and it gives our customers great security and satisfaction knowing their home can evolve with them.”
Designing future additions into a home plan before it is built is a refreshing perspective on a traditional thought process.
The new family also pays taxes. These county tax revenues help pay for a wide range of government services, including school teachers, police departments, refuse collection, parks maintenance and road repairs.
“Homeownership is a primary source of net worth for many Americans and is an important step in accumulating personal financial assets over the long term,” said Randy Noel, chairman of the NAHB in a press release.
During National Homeownership Month and throughout the year the Generation Homes team works hard to make a home a home housing a reality and that it continues to be a priority to our nation’s leadership.
To learn more, contact Generation Homes (904) 955-4769 or www.generationhomesusa.com.