This is why home ownership matters so much
The summer is well underway, and that means many families are looking for or considering a change of address before the new school season starts.
This time of year also gives us a chance to celebrate and promote the American dream of homeownership and identify the many benefits of owning that roof over your head.
Most consumers know homeownership is among the soundest investments an individual can make to begin building their personal wealth.
However, owning a home is not just in the best interest of the homeowner. Homeownership provides social stability, builds communities and is a driving force for the national economy.
Below are some of the benefits of reaching the American dream:
■ Social stability: Improved educational performance, lower crime rates and improved health are a few social benefits linked to homeownership. Homeownership allows households to accumulate wealth, which opens doors to more engagement in communities through volunteer work, involvement in social activities and electoral participation.
■ Strong communities: Homeowners tend to stay in their homes longer than renters, dedicate more money to improving their home and are more engaged in enhancing their community. Homeowners often are more invested in their home and their surroundings, which leads to stronger neighborhoods and communities and increased interaction between neighbors.
■ Economic force: Being a homeowner also has a positive local and national economic impact. That is because homeownership creates jobs through remodeling, landscaping, lawn service, furniture and appliances, home improvement and real estate services. When a home is sold in the United States, the income generated from real estate-related industries is more than $20,000 and additional expenditures on consumer items is about $4,500 – a boon to the economy.
■ Brings families together: Along with being more involved in their communities, homeowners are often active and connected to their own families. Family dinners and game nights at home could mean a more-connected, happier family.
Home is where people make memories and feel comfortable and secure.
As Realtors assist buyers and sellers to find their dream home this summer, it’s also an opportunity to reiterate that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream and enjoy the many benefits that come along with it.
For more information about buying or selling a home, be sure to connect with a Dayton-area Realtor today.