PRECorp Celebrates Homeownership

Homeownership brings families, neighborhoods and communities together. The Powder River Energy Corporation (PRECorp) believes raising awareness about the benefits of homeownership is critical to the well-being of the communities it serves. The real estate market is thriving, making homeownership a reality for individuals who dream of owning their own home. Learn more about why homeownership matters and how you can become a homeowner too. 

Wyoming Real Estate Market is Booming

According to the Wyoming Economic Summary Report, the statewide single-family home price increased 8.4 percent in the fourth quarter of 2020 from one year ago, while single-family building permits for new privately-owned residential construction in the fourth quarter of 2020 were 21.5% higher than the previous year level. Realtor.com indicates that in October 2021, the median list price of homes in Campbell County was 15.1% higher year-over-year. 

PRECorp Supports Homeownership

PRECorp offers an abundance of resources for potential home buyers. One partner is the Wyoming Business Council, which aims to tackle Quality of Life issues such as housing availability. The Council’s Community Toolbox is one tool used for homeowner education resources. Other resources for northeastern Wyoming can be found on the Wyoming Business Council’s website.

Why Homeownership Matters

Owning a home is a cornerstone of the “American Dream.” With homeownership, comes a sense of pride, financial stability and equity. Many homeowners benefit from tax deductions and affordable monthly mortgage payments that are lower than the average rent. Buying a home is considered one of the best and most reliable long-term investments because residential real estate tends to rise in value over the long haul. In addition to the personal benefits, homeownership plays an important role in sustaining prosperous and stable communities. 

Homeownership grows the community tax base, reducing the individual’s tax burden. Research shows that higher homeownership percentages directly correlate with lower crime rates. Homeowners tend to volunteer more, buy more goods and services from local business owners, support local educational systems and benefit the economy more overall. Homeowners are even more likely to be involved in local civic engagements and elections. An additional benefit of homeownership for the community is that one new job is supported from every two home sales, according to NAR calculations.

Choose Homeownership

Now may be the perfect time to explore purchasing a home in northeastern Wyoming. Owning a home is widely regarded as one of the best ways to build wealth. Home prices continue to rise, resulting in a higher resale value. Mortgage rates are low and steady, presenting a unique opportunity for homebuyers to purchase with a lower monthly payment. Homeownership has many benefits, but it has to be sustainable for the buyer. PRECorp can put you in touch with the correct resources necessary to simplify the process and assist you on your journey to making this dream a reality.  PRECorp is in the business of helping families become part of the community. Visit our website to learn how we can help.  

Powder River Energy Corporation is a member-owned, nonprofit electric cooperative headquartered in Sundance, WY., serving approximately ­­­27,000 active electric meters at residences, ranches, coal mines, oil and gas wells, businesses, and industry in the five counties of northeastern Wyoming. For more information go to www.precorp.coop.