Owning a home has a multitude of benefits. From the freedom to create a space you truly love, to tax savings and the value of investing in property, owning a home is still one of the top American Dreams. But did you know homeowners also bring significant benefits to the communities in which they live?
There have been countless studies and research done on the benefits of homeownership, and now these results have been reviewed in depth by Realtor® University (RU), the educational institution of the NAR. Within their latest publication of The Journal of The Center for Real Estate Studies, RU has released some intriguing findings on the benefits of homeownership within communities.
As we learned from the housing and economic crash of 2008, the stability of a housing market directly impacts the stability of a community. Stability is also a key factor in building long-term social benefits which in turn strengthen connections between residents, civic and public resources and area businesses. When strong bonds exist between these groups, life is better all-around.
People who own homes tend to be more stable, staying where they live for longer periods of time compared to those who don’t own property. The UR paper on The Social Benefits of Homeownership and Stable Housing has revealed just what types of benefits homeownership brings to create a happy and interconnected community.
Some Key Benefits include:
Civic Engagement: Homeowners are more likely to become involved in local civic programs and organizations. When residents actively participate in the running of community business, they tend to do so for the love of where they live, and through the desire to help take care the town or city they call home.
Crime: Studies and statistics show that people who own homes are less likely to commit crimes, enhancing the safety of neighborhoods. Living in a low-crime area also adds value to properties.
Education: Receiving a quality education is the key towards creating a happy and successful lifestyle. Homeowners often have a greater ability to accrue investment wealth and savings. Financial stability has been directly linked to higher graduation rates. Higher graduation rates help ensure the next generation will join in long-term community connections as well.
Health: Homeownership increases the sense of freedom to live the life you want. This “Happiness Factor” brings with its own natural health benefits, as happy people tend to be healthy people who live longer. Happier people also tend to seek out local resources, accessing recreational amenities and healthier choices available through area, businesses and health & wellness services.
The latest Journal from Realtor® University provides a lot more details on the social benefits of homeownership, you can review the publication yourself on their website. Ultimately, homeownership is a win-win situation for those who own and the communities they live in. If you are ready to invest in property, buy or sell a home, we at Haylen Group are here to help you with all your real estate needs! As your agent, we will strive to work together and give you the best support we can. Call Helen Chong at (408) 800-LIST or email at Helen@HaylenGroup.com. You can also visit us at our website for available listings and additional information.