Does Homeownership Matter?

You bet it does!  At the most basic level, it provides shelter and security to families.  But, there is a lot more to it than that, and here are some facts about homeowners from the National Association of Realtors, Federal Reserve Board, and the US Census Bureau:

• They are more likely to vote,
• They volunteer their time more frequently for charitable causes,
• They move less often, providing more neighborhood stability,
• The decision to stay in school by teenage students is higher for those raised by home-owning parents,
• Daughters of homeowners have a much lower incidence of teenage pregnancy,
• The median net worth of homeowners it 45.9 times that of a renter’s ($234,200 vs. $5,100),
• Owner occupied housing is better maintained than non-owner occupied property,
• In addition to being more satisfied with their own personal situation, homeowners also enjoy better physical and psychological health,
• Homeowners are less likely to report financial hardships,
• The average child of a homeowner is significantly more likely to achieve a higher level of education, and thereby, a higher level of earnings.

These are some of the reasons that homeownership is called the “American Dream”.  Taking the big step from renting to owning can be a difficult one, but with planning and patience, it can become a reality.  Your Realtor is not just here to help you become a homeowner, but also works hard to protect private property rights, on the local, state, and national levels.

Guest Blogger:

Greg Zadel | Firestone, CO

• 2011 Realtor of the Year, Colorado Association of REALTORS®
• 2008 President, Colorado Association of REALTORS®