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Field Guide to Benefits of Home Ownership

Field Guide to Benefits of Home Ownership

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National Association of REALTORS - Field Guide To Benefits of Home Ownership
National Association of REALTORS - Field Guide To Benefits of Home Ownership

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Published by: David Schmid, REALTOR, CCIM, CPM, CRS on Jul 19, 2011
Copyright:Attribution Non-commercial

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07/25/2011

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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 benets are substantialsocial benets for families, communities
and the country as a whole. A few of 
these benets are:
1. Higher Academic Achievement2. More Cohesive Communities3. Better Connected Families4. Improved Health & Safety5. Stronger Economy
BENEFITS
of 
HOMEOWNERSHIP
to the th
FIELDGUIDE
1. Higher Academic Achievement
One of the most important social benets
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.
1
 Better social outcomes arise as parentsprovide a more supportive environment fortheir children.
2
Another benet 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.”
3
 
1.“Measuring the Benets of Home owning: Effects on Children”. Green, Richard K. and Michelle J. White 1997 2. “The Impact of Home ownership on ChildOutcomes”.
Haruin
, 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.
ReadingScoresUp7%
MathScoresUp9%HighSchoolGradua tionRateUp 25%College Gradua tionRateUp 116%
 
Home owners tend to stay in their homes longerthan renters. They also spend more money to improvetheir home and are more engaged in enhancing their community.Simply put, home owners care more and takemore action. Which leads to nicer neighborhoods,stronger communities and more overall involvementin civic duties.
 All statistics from research compiled by theCincinnati ofce of the NeighborhoodReinvestment Corporation, April 2003
2. More Cohesive Communities
Home ownership buildsstronger families. Comparedto renters,
home owners
 
are
:
 
 All statistics from research compiled by theCincinnati ofce of the NeighborhoodReinvestment Corporation, April 2003
10
%
more likelyto attendchurch
less likely
 
tohave alcohol andsubstance-abuseproblems
16
%
more likelyto belong toparent-teacherorganizations,book clubs,etc.
1.3
times
 
morelikely to readnewspapers
59
%
more likely to owna home within 10years of movingfrom parentshousehold
3. Better Connected Families
Along with being more involved in theircommunities, home owners are moreactive and connectedto their own families.Volunteering at schools,coaching athletic teams,becoming a scout or troopleader are just some of thetypes of activities homeowners are active in.Throw in simple thingslike family game nightand your home becomesthe perfect setting fora more-connected,happier family.

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