Non-Financial Benefits of Homeownership

It goes without saying that a home is more than just a place to live. It’s been an essential part of the American Dream….and I think it’s safe to say that most people believe that homeownership is a key indicator of achieving prosperity and success.
Let’s put aside the tax benefits, equity building, it’s hedge against inflation and talk about some non-financial benefits:
1. Community Engagement: Home ownership enables you to have deeper connections with your community….and a sense of pride in your neighborhood or town that many renters don’t experience.

2. Improved Education for your children: National Association of Realtors had a survey that suggested that the children of homeowners are considerably more likely to obtain a higher level of education. This applies to both high and low income areas.


3. Improved Mental & Physical Health: Research indicates that homeowners and their families are generally happier and healthier than renters. It’s due, in part, to increased privacy and a feeling of security…and knowing that a landlord isn’t watching over you with a rent hike on the horizon.
Look…I’m sure there’s many happy renters out there. And for some, it may make sense to rent. But if you want to set some roots, pick your own paint color, and feel a heightened sense of community…home ownership…hands down…wins.