Definition, Meaning & Synonyms

home-ownership

noun

/ˈhoʊm ˈoʊnərʃɪp/

Definition

The state or condition of owning one’s own home, rather than renting it from someone else.

Examples

Many people aspire to achieve home-ownership as a part of the American Dream.
Home-ownership can provide stability and a sense of pride in one’s living situation.
Investing in home-ownership can lead to financial growth over time.

Meaning

Home-ownership refers to the situation where a person or family fully owns their home. This can involve buying a property outright, or owning it through a mortgage arrangement.