Benefits of Homeownership You Probably Don’t Know

Reverse-Mortgage-The-Happy-Homeowner

Everyone knows the basic benefits of homeownership, but here are some benefits that most people don’t realize or think about:

Benefits to The Owner:

  • A homeowner’s net worth is 34 times that of a renter
  • 95% of homeowners and 72% of renters believe that over a period of several years that it makes more sense to own your home rather than rent
  • 77% of homeowners say owning a home helps them to achieve long term financial goals
  • 70% of homeowners say owning a home helps them achieve the American Dream

Benefits to Your Family:

  • Children of homeowners are 116% more likely to graduate from college
  • Owning rather than renting yields a 23% higher -quality home environment
  • The income of homeowner parents is twice the income of rental parents

Benefits to Your Community:

  • Homeowners live in a community 4 times longer then renters
  • Homeowners are 16% more likely to belong to parent-teacher organizations
  • Homeowners are 1.3 times more likely to read a newspaper
  • Homeowners are 28% more likely to vote

Benefits to the Country:

  • For each home purchase an average of $60,000 in direct and indirect spending occurs in the economy
  • Housing accounts for more than 15% of the national GDP, and is a key driver of the US economy
  • One job is created for every 2 homes sold

Statistics are from Realtor.org

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