Definition, Meaning & Synonyms
homeownership
Noun
ˌhoʊmˈoʊnərˌʃɪp
Definition
The state or condition of owning a home or property, as opposed to renting it.
Examples
- Many people dream of achieving homeownership at some point in their lives.
- Homeownership can provide stability and pride for families.
- Government programs often aim to encourage homeownership among first-time buyers.
Meaning
Homeownership refers to the act of acquiring and possessing a residential property, where the owner has legal rights to the premises.
Synonyms
- Property ownership
- House ownership
- Real estate ownership
