Being a home owner is morethan just having a roof over your head. Home ownershipinstills feelings of comfort,security, stability and pride.However, in addition to these
important benets are substantialsocial benets for families, communities
and the country as a whole. A few of
these benets are:
1. Higher Academic Achievement2. More Cohesive Communities3. Better Connected Families4. Improved Health & Safety5. Stronger Economy
to the the
1. Higher Academic Achievement
One of the most important social benets
of home ownership is how it affectschildren and their academic achievement.Several studies show that there is directcorrelation between home ownership andeducational achievement. Time and timeagain, it has been proven that home ownersare more involved in their children’s lives,especially when it comes to schooling.
Better social outcomes arise as parentsprovide a more supportive environment fortheir children.
Another benet is that home owners
tend to move less often than renters. Thisstability adds to a child’s success in school.A study by the New York Federal ReserveBank found that “though home ownershipraises educational outcomes for children,neighborhood stability further enhances thepositive outcome.”
1.“Measuring the Benets of Home owning: Effects on Children”. Green, Richard K. and Michelle J. White 1997 2. “The Impact of Home ownership on ChildOutcomes”.
, Donald R., Toby L. Parcel and R. Jean Haurin 2001 3. “Effects of Homeownership on Children: The Role of Neighborhood Characteristicsand Family Income” FRBNY Economic Policy Review. Harkness, J. and S. Newman 2003.
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