Is Homeownership Important?

I believe the answer is an absolute yes. Especially for families with children. I believe that society is now divided more profoundly between renters and home owners than the other factors that divide us. In years past race, religion or ethnicity seemed to provide cultural barriers. It seems to me that those barriers have been eased during our lifetime.

As Realtors we are often asked which school district is the best. This prompts the question why are some schools more successful than others. School districts are designed to be diverse and racially balanced. That leads to an observation that the answer does not depend on racial or ethnic causes. Looking at the local districts I looked for reasons and differences between the local elementary schools. I do not believe that the difference are the teachers nor staffs of the school. Certainly there may be differences between one class and another in the same school attributed to the teacher's commitment and skill. I believe that those differences would balance out when considering an entire school. What does make the difference?

I believe school districts with a higher percentage of homeowners will have more academic success. I have included an except form a report by the New York City Habitat for Humanity below. To view the entire article click:

http://www.habitatnyc.org/pdf/Toolkit/homewonership.pdf

For more reading on the subject go to http://www.newtowncdc.org/pdf/social_consequences_study.pdf
That article lists several benefits of home ownership:

• Child Outcome is Enhanced
• Positive effect on Mental, Physical and Emotional Health
• Increased Social Involvement
• Increased Political Involvement
• Environmental Awareness
• Increased Stability
• Less Vulnerability to Crime

Another benefit for children of home ownership is that they learn personal responsibility. They witness their parents taking responsibility for their home, its preservation and maintenance. Children of renters learn that someone else performs those functions. When the sink doesn't function you call the landlord. It reinforces an entitlement mentality.

The long term financial benefit of home ownership is very evident. If you are not a homeowner you have three things you can count on; Death, Taxes and the Rent.

Gary Barker
gary@gary-barker.com
www.gary-barker.com
www.facebook.com/garybarkerrealestate