Home Ownership and Your Community

Research has shown that there is a more positive relationship between the community and the home owners within it compared to those who rent. Home owners who are actively involved in the community reap the benefits of better opportunities in education and even increased happiness and self-esteem.

The AMERICAN DREAM of owning a home can instill a sense of pride for the owner. Contributing to our country’s economy directly affects the community. Stability, security and comfort are created within the walls and is reflected outward into the community as well.

More statistics show that people who own their home stay in that area for a longer period of time than renters. This strengthens the correlation between owner and community.

Another factor that helps build this relationship is education. Higher achievements in education have been linked to areas with high rates of home ownership. Again, the length of time living in a neighborhood comes into play here. Changing schools often can impact a student’s educational achievements negatively.

Apart from education, there are other correlations between home owners and communities:

 

• Communal responsibilities

Home owners also have been more inclined to participate in such civic activities as voting and volunteering in local organizations.

 

• Health

The health of home owners has also been a factor when comparing ownership to community. Feeling like a permanent part of a community and the idea that they are helping to build up this community affects the physical and mental health of the home owner.

 

• Crime

Home owners invest more, financially, into their property than renters. Property crimes can affect the values of all homes in a whole neighborhood. The fact that everyone can be impacted solidifies the bond between owner and community.

 

There are many ways in which owning a home contributes to the strengthening of a community. Financial investment, emotional investment and investing your time are the keys to this relationship.