Did you know there are more benefits to being a homeowner than just calling your place home? You also have an impact on your children’s lives, the economy and the community.
This study, provided by Habitat for Humanity, a non-profit organization whose main mission is to provide decent, safe and affordable housing to families, details such benefits. This study compares families to those who rent. Here is just a sampling of the benefits. For more facts, click here.
- Children of homeowners score better on academic achievement tests, have a 25% higher high school graduation rate and are twice as likely to pursue a college education. They are also more likely to become homeowners themselves.
- Economically, homeowners can take advantage of the government’s mortgage interest rate tax deduction, and generate substantial equity through mortgage payments on their home and those who live in a neighborhood with a high rate of homeowners create a more desirable place to live.
- Around the community, homeowners are more likely to participate in local organizations, vote, stay in their neighborhood for longer and are happier with their neighborhood than renters.
Families who own homes feel that they have stability in their lives, feeling safer and more productive. Do you think it’s time for you to own a home? It really makes a difference!