6 Reasons You Want To Own Your Home - Way More Than Just a Roof Over Your Head!
by Dan Wolf
on Wednesday, July 4th, 2012 at 3:14pm.
The National Association of Realtors published a report I read recently. The report was interesting, because it was similar to a "Readers Digest" condensed version of a number of studies by other professional academia individuals touching on the subject of home ownership.
I found the report interesting partly because the report wasn't NAR propaganda; it wasn't written to necessarily sell more homes, but from the perspective of education, family values and gaining community strength and more knitted neighborhoods.
In short, the study said there are major benefits to home ownership, besides the obvious roof over you head, the tax advantages and the historic fact that your financial net worth will probably increase over time.
The High Points were:
Higher Academic Achievement- One of the more important social benefits of home ownership is how it affects a child's academic achievement. Several studies show a direct correlation between home ownership and educational achievement. Time and time again, it's been proven that home owners are more involved in their children's lives, especially when it comes to schooling. Better social outcomes arise as parents provide more supportive environments, such as their homes, for their family.
More Cohesive Communities-Homeowners tend to say in their homes longer than renters. They also spend more money to improve their homes and are generally more engaged in enhancing their communities.
Better Connected Families - Along with being more involved in their communities, homeowners are more involved and connected to their own families according to the report. Volunteering at schools, coaching athletic teams and being scout leaders are just one of the examples of activities homeowners are active in.
Homeownership builds stronger families; compared to renters, homeowners are:less likely to have alcohol and substance - abuse problems; are 16% more likely to belong to parent-teacher organizations, book clubs, etc. All directly enhancing family bonds between mother and fathers and children.
1.3 times more likely to read newspapers
10% more likely to attend church
59% more likely to won a home within 10 years of moving from parents household
Improved Health and Safety - Homeowners tend to be happier and healthier than non-homeowners. In fact, one study found that people who recently became home-owners reported higher life satisfaction, self-esteem and perceived control over their lies. In addition to being more satisfied with their own personal situation than rents, home woners also enjoy better physical and psychological health.
Stronger Economy - Being a home0wner also has positive economic impact in your neighborhood, towns and cities - even on a national level. That's because home-ownership creates jobs for remodeling, landscaping, lawn services, pool services, the purchase of furniture and appliances, home improvement and much more! The list goes on and on. In fact, each home purchase generates as much as $60,000 of economic activity in the local market!
So, the moral of the story is "Buy a house and Support Home-Ownership!"