Young families in Wisconsin are facing an affordable housing problem. With student loan debt, tight budgets, and the rising cost of housing, it’s nearly impossible for many renters to save enough money for a down payment for a home these days.
These are tough obstacles to overcome. That’s why we need the Wisconsin First-Time Homebuyers Savings Accounts tool – an idea that has already been adopted by other states across the country to help prospective home buyers start saving for a down payment.
With a First-Time Homebuyers Savings Account, someone can start to save money tax free specifically for the purpose of buying a home.
This concrete solution to help first-time homebuyers also helps the rest of Wisconsin. Research shows that homeownership strengthens communities and provides stability for families.
Deep roots planted by new Wisconsin homeowners mean more stable middle-class communities and a stronger economy.
CONTACT YOUR STATE LEGISLATORS
We should be doing everything we can to encourage homeownership and help people get into their first home.
Contact your State Legislators now! Tell them you support the Wisconsin First-Time Homebuyers Savings Account proposal.
“Over eight out of ten Wisconsin voters agree: the Wisconsin First-Time Homebuyers Savings Account will make it easier for people to live, work, and stay in Wisconsin.”
Why Support First-Time Homebuyers Savings Accounts?
• This proposal helps all of Wisconsin. Home ownership strengthens communities and provides stability for families.
• This proposal is not a hand out. It encourages working people to save more of their own money towards the cost of buying their own home.
• This proposal would be straightforward. Individuals would be able set up an account at any local bank.
• This proposal is only for buying a first home. There would be penalties for using the money for anything but costs associated with buying a first home.