Societal Benefits Of Home Ownership

Dated: 06/13/2017

Views: 238

Image title

The National Association of Realtors (NAR) recently released a study called ‘Social Benefits of Hom eownership and Stable Housing’. Its biggest lesson being, “Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Home ownership allows households to accumulate wealth and social status.”

Some main ideas from this study are as follows:

  1. Homeowners have a greater financial stake in their neighborhoods than renters, putting time and money into their home which not only adds to the value of their home, but value and commitment to the neighborhood.

  2. Commitment in neighborhoods/communities leads to increased social capital, higher rates of voluntary organization membership, and stability in a home.

  3. Homeowners are more politically active, 77% voted in local elections compared to the 52% of renters.

  4. Political activity also leads to increased political awareness, 38% of home buyers knowing the name of their local school board representative compared to the 20% of renters.

Blog author image

Julie Baldino

Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consistently been in the top 10% in sales for over a decade in 2 states. In order to accommodate a rapidly ex....

Want to Advertise on this Site?

Latest Blog Posts

6 Bad Habits That Stand Between You And Homeownership

When buying a home, avoid these six lousy habits.Looking to buy a home? Search all homes.Looking to sell a home? Get a FREE home value report.If you plan on buying a home in 2018, there

Read More

9 Cleaning Tips Before Selling Your Home

Moving out or moving in? Cleaning is an important part of that process! From ceiling fans to baseboards there is so much to clean when you’re moving out. We want to help make the process as

Read More

3 Ways To Save 100K On Your Next Home

Saving $100K on your next home sounds crazy, right? Savings like this are life changing and could allow you to do so much more with your future plans. Believe it or not, with a few changes in your

Read More

Buying A Home For The First Time Consider These 8 Tips

Looking to buy a home? Search all homes.Looking to sell a home? Get a FREE home value report.As a first-time homebuyer, there are eight ways you can set yourself ahead during your home

Read More