Benefits of Home Ownership

Being a home owner is more than just having a roof over your head. Home ownership instills feelings of comfort, security, stability and pride. In addition there are substantial social benefits for families, communities and the country as a whole.

1. Higher Academic Achievement
One of the most important social benefits of home ownership is how it affects children and their academic achievement. Howe owners tend to be more involved in their children's lives and schooling, and homeowners also tend to move less than renters, this adds stability in a child success in school.

Homeowners are:

• Reading is up 7%
• Math Scores are up 9%
• High School graduation is up 25%
• College graduation is up %116

2. More Cohesive Communities

Home owners tend to stay in their homes longer than renters. They also spend more money to improve their home and are more engaged in enhancing their community. Simply put, home owners care more and take more action. Which leads to nicer neighborhoods, stronger communities and more overall involvement in civic duties.

Homeowners are:

• 28 % more likely to repair or improve their home
• 28 % more likely to vote
• 11 % more likely to know who represents them in congress
• 12 % more likely ti maintain a garden outside their home
• 10 % more likely to report they have worked to solve local problems
• Live 4 times longer in a community
• 9 % more likely ti know who their school-board representative is

3. Better Connected Families

Along with being more involved in their communities, home owners are more active and connected to their own families.

Home Owners are:

• Less likely to have alcohol and substance abuse problems
• 16 % more likely to belong to parent-teacher organizations, book clubs, etc.
• 1.3 times more likely to read newspapers
• 10 % more likely to attend church
• 59 % more likely to own a home within 10 years of moving from parents household

4. Improved Health and Safety

Home owners are happier and healthier than non-owners. In fact, one study found that people who recently became home owners reported higher life satisfaction, higher self esteem and higher perceived control over their lives. Home owners also enjoy better physical and psychological health.

Home owners are:

• Children of home owners are 20 % less likely to become teenage mothers
• Proven to reduce Crime

5. Stronger Economy

Being a home owner also has a positive economic impact in your neighborhood, your town, your city and even on a national level. That is because it creates jobs. Each home purchase generates as much as $60,000 of economic activity in the local and surrounding area.

• A home owners net worth is 45.9 times that of a renters.