What is home ownership?
Owner-occupancy or home-ownership is a form of housing tenure where a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which he/she lives. This home can be house, apartment, condominium, or a housing cooperative.
Home ownership can also be a catalyst for wealth and confidence. Many families have used the equity built through their home to pay for many things such as college tuition, to finance business ventures and entrepreneurial dreams, or even purchase an investment property.