How Homeownership Impacts YOUR Community.
Owning a home is a very big deal. As a result homeownership has many benefits. Some benefits are larger than financial security. Simply put, Homeownership Impacts YOUR Community.
The National Association of REALTORS® released a study titled “Social Benefits of Homeownership & Stable Housing“. This study has confirmed the long standing belief that owning a home promises more than individual freedom and a sense of stability for American households.
Homeownership allows for families to accumulate wealth and social status. Homeownership is the reason for a number of positive social, economic, family and civic outcomes.
Here are just a few of the findings that support how homeownership impacts your community:
1) Increased Stability – Because owners tend to remain in their homes longer. Furthermore, they add a degree of stability to their neighborhood.
2) Financial Appreciation – Homeowners benefit from the appreciation in the value of their home. Most of all Homeowners spend more time and money maintaining their residence. Which contributes to the overall quality of the surrounding community.
3) Political Involvement – Homeowners were found to be more politically active than renters. At some point 77% of homeowners had voted in local elections compared with 52% of renters. In addition, 38% of homeowners knew the name of their local school board representative.
4) Organization Involvement– Voluntary organizations and local charities see a larger percentage of homeowners getting involved than renters.
5) Sense of Community – Owning a home means owning part of a neighborhood. Homeowners sense a feeling of commitment to their home. Therefore homeowners want to see the community thrive. As a result this increases interaction with their neighbors.
People are often quick to note the financial benefits of owning a home. As we can see there are many social benefits as well. In conclusion, homeownership certainly impacts your community. In very positive ways! Get a copy of our FREE HOME BUYERS GUIDE today!