Benefits Of Home Ownership
While there are many benefits to home ownership, including a lower monthly payment than what you may be paying for rent, and the ability to paint, decorate and landscape the way you want, there are also many social benefits to owning a home.
Compared to children of renters, the children of home owners are:
- 25% more likely to graduate from high school
- 116% more likely to graduate from college
- 20% less likely to become teen mothers
- And, save taxpayers an estimated $34,000 in public expenditures per household (costs of juvenile delinquency, teen pregnancy, etc...)
Compared to renters, home owners are:
- 28% more likely to repair or improve their homes
- 12% more likely to maintain a garden outside their homes
- 10% more likely to report they have worked to resolve local problems
- 15% more likely to vote
- 10% more likely to attend church
- And, higher rates of neighborhood home ownership correspond with lower rates of violent crime
To learn more about the benefits of home ownership, or to see if you qualify, contact your dedicated lender, Ed Smith.
Social benefit statistics courtesy of Housing Resources, Inc.