What is Owner-occupancy?
'''Owner-occupancy''' or '''home-ownership''' is a form of [[housing]] in which a person, called the '''owner-occupier''', '''owner-occupant''', or '''home owner''', owns the home in which they live. The home can be a [[house]], such as a [[single-family house]], an [[apartment]], [[condominium]], or a [[housing cooperative]]. Owner-occupancy is also a [[Real property|real estate]] [[investment]]. The [[value]] of housing generally increases over time. <ref>{{Cite web|last=Koren|first=Liran|date=2022-04-13|title=Owner-Occupied vs. Non-Owner-Occupied Real Estate: What's the Difference?|url=https://luxurypropertycare.com/owner-occupied-vs-non-owner-occupied/|access-date=2024-02-13|website=Luxury Property Care|language=en-US|archive-date=2024-04-19|archive-url=https://web.archive.org/web/20240419185548/https://luxurypropertycare.com/owner-occupied-vs-non-owner-occupied/|url-status=dead}}</ref> Some homes are built by or for the people who want to live in them. Many are [[Inheritance|inherited]]. A large number are bought, as new homes from a real estate developer or as an existing home from a [[landlord]] or an owner-occupier. A home is the most expensive single [[purchase]] most people make. It usually costs several year's [[household income]]. Most people do not have enough money to pay the entire amount outright. They borrow money using the home as [[Securities Lending|security]]. This is called a [[mortgage]]. They have to pay [[interest]] on the [[loan]]. If they dont pay the [[Lend|lender]] can take their home. In many countries the government helps people to buy homes. There may be [[Grant (money)|grants]] or [[Subsidy|subsidies]]. They may have to meet certain [[Qualification|qualifications]] to get this help such as being a [[first-time]] homebuyer or having an [[income]] below a certain level.<ref>{{cite web|url=https://www.oecd.org/els/family/PH2-1-Public-spending-support-to-home-buyers.pdf| title=Public spending on financial support to homebuyers| access-date=21 September 2020| website=OECD| date