The journey of homeownership is rarely a straight line. According to Census data, the average American can expect to move 11.7 times in their lifetime. The reasons for relocating can range from major lifestyle shifts to strategic financial decisions.

Here are a few of the primary milestones that lead people to start their homeownership journey over again.

Preparing for a Growing Family 

Homebuyers planning for a growing family often need more square footage. This might mean a bigger yard for a pet, an extra room for a nursery, or an in-law suite for a parent.  

Consider these options if your family is expanding: 

Home Renovation: If you love your neighborhood but need more space, consider using your existing home equity to fund a renovation before putting your house on the market.  

Moving Up: Upsizing to a larger property is a reliable way to gain space.  When searching for a new home, look for additional bedrooms, playrooms, or a large backyard to accommodate your future needs. 

Career Shifts and the New Workforce 

Whether you are moving because of a job relocation or taking advantage of remote work flexibility, career changes can be a strong motivator for a move. 

Job Relocation: A new opportunity or company transfer may require a quick move. Getting pre-approved early is essential so you can act fast in a competitive market and focus on getting settled in your new role. 

Remote Work Freedom: Many professionals are no longer tied to an office, allowing them to prioritize quality over a commute. This shift has led many to look for homes with flex rooms or homes with dedicated office spaces to support a productive work from home environment. 

Sending a Child to College 

Having a child graduate high school and starting their college education is a huge milestone! However, for many parents, this leads to an “empty nest” with more space than they currently need.

Here are some real estate options for a college transition: 

Downsizing: Many parents take this opportunity to move into a smaller home. This can lessen the financial burden of a large property or provide a lower-maintenance lifestyle through a homeowner’s association.

Kiddie Condos: Also known as a college house, many parents look to purchase a house near their kid’s college or university as an investment as opposed to paying for outside student housing. When going this route, your student may have roommates that will offset your mortgage payment along with the opportunity to gain equity during the college years. 

Strategic Retirement Planning 

Retirement offers more time and flexibility for travel and hobbies. During this stage, many people choose to invest in properties located in areas they truly enjoy. 

• Buying a Second Home: For many, owning a vacation property is the ultimate retirement goal. Having a dedicated getaway is a major win at this milestone.

  Consider purchasing a second home now to use as a vacation property and investment, with a plan to make it your primary residence later. Check out our blog on second homes vs investment properties to learn more. 

Multi-Generational Living: Caring for Aging Loved Ones 

As life progresses, being close to family often becomes a top priority and one of the primary reasons for making a move according to NAR. This frequently includes creating a dedicated space for aging parents or relatives. 

Accessibility Renovations: If you want to stay in your current home, consider a renovation to make the space more accessible or build a mother-in-law suite to accommodate your family.

Upsizing for Multi-Generational Use: If a renovation is not feasible, search for homes specifically designed for multi-generational living. Focus on properties with separate living areas, large kitchens, and floor plans that support the needs of aging family members.

Do you relate to any of these moving milestones? 

If you are currently experiencing one of these life changes, it may be time to speak with a loan officer about your goals. We are happy to explain your mortgage options and help guide you through your next move. Contact us today! 

Every June, we recognize National Homeownership Month as an opportunity to celebrate the impact homeownership has had on families, communities, and financial stability across the country. While buying a home today may look very different than it did decades ago, the desire to create a place to call home has remained constant throughout American history. 

Homeownership has long represented more than just owning property. For many families, it symbolizes stability, opportunity, generational wealth, and personal achievement. Understanding the history of homeownership can also provide a valuable perspective on how lending, affordability, and access to home financing have evolved over time. 

Whether you’re a first-time homebuyer, a move-up buyer, or simply exploring your options, here’s a look at how homeownership became such an important part of the American story. 

What Was Homeownership Like in Early America? 

In the early days of the United States, homeownership was far less accessible than it is today. Property ownership was often limited to wealthy landowners, and financing options were extremely limited. 

During the 1800s: 

• Most home purchases required large down payments  

• Mortgage terms were short, often 5 years or less  

• Many loans ended with balloon payments  

• Banks offered limited lending opportunities  

• Renting was common in growing cities   

During the 1800’s buying a home was not considered achievable for the average working-class family. 

In the 1930’s 

The modern mortgage system began to take shape during the Great Depression. 

As economic hardship increased throughout the 1930s, many homeowners faced foreclosure due to short-term loans and unstable lending practices. In response, the federal government introduced programs designed to stabilize the housing market and expand access to homeownership. 

Several major changes emerged during this time: 

• Longer mortgage terms became available  

• Fixed-rate mortgages gained popularity  

• Lower downpayment options were introduced  

• Government-backed loan programs helped increase accessibility 

These changes transformed homeownership from something reserved primarily for the wealthy into a more attainable goal for middle-class families. 

After World War II 

Following World War II, the housing market experienced major growth. 

Returning veterans created significant demand for housing, and government-backed loan programs helped many families purchase homes with more affordable financing options. Suburban communities rapidly expanded throughout the 1950s and 1960s, contributing to a sharp increase in the national homeownership rate. 

During this period: 

• New construction boomed  

• Mortgage accessibility improved  

• Monthly payment structures became more manageable  

• Homeownership became increasingly associated with financial success and family stability 

This era helped solidify the cultural importance of owning a home in the United States. 

Modern Homeownership 

The homebuying process has continued to evolve with changing economic conditions, technology, and buyer needs. 

Today’s buyers have access to: 

• Online home searches  

• Digital mortgage applications  

• Educational resources for first-time buyers  

• Downpayment assistance programs  

• Specialized financing options  

• More flexible loan products 

At the same time, modern buyers also face new challenges, including: 

• Rising home prices  

• Limited inventory in some markets  

• Higher interest rate environments  

• Student loan debt  

• Affordability concerns 

Despite these challenges, homeownership continues to remain a major financial and personal goal for many Americans, with many lenders offering resources to make it possible. At Southern Trust, our team is well-versed in offering guidance for buyers in any financial situation, with access to resources like: 

• Grants 

• Downpayment Assistance Programs 

• Rate Buydowns 

• Our Priority Approval Program 

• And more!

Ready to Make Home Happen? 

Whether you’re a first-time buyer or planning your next move, our team is here to help you navigate the mortgage process with confidence. From education to financing options, we’re committed to helping you make informed decisions every step of the way.  

Sources: https://www.huduser.gov/portal/pdredge/pdr-edge-housingat250-article-071025.html? ,  https://benefits.va.gov/homeloans/history/