CHILDREN BENEFIT from Home Ownership in Santa Cruz / Monterey County
Terri points out a benefit of home ownership that doesn't get talked about enough - the positive effect on children. Growing up, my parents were always renters and it took a long time to afford home ownership for them, but I watched them plan, watched them save, and saw how happy they were when they finally had a place that was all theirs.
I've seen many instances where people that are lifelong renters buy their first home and have no idea what to do when something breaks - no idea who to call, and no idea how to fix things.
The stability of living in the same place is also an understated benefit - growing up with my parents renting, we also moved around a bit - thankfully they kept me in the same school district, but sometimes that meant less than optimal homes. Community is important to me, and living in the same place allows children a better chance of getting involved in their community from a young age. I really enjoyed this post & I'm sure you will, too.
Why should I buy a home?
Many people are asking that question. Especially those who were burned by the recent housing downturn.
Some lost their homes through short sales, foreclosures and/or bankruptcy. And now, they are a little hesitant to get back into the housing ownership group again. Is this you?
I know, I know. We all know the financial benefits. Gain equity through appreciation. Tax deductions. Capital Gain exclusions.
BUT… DID YOU KNOW THAT HOME OWNERSHIP ACTUALLY BENEFITS YOUR KIDDOS?
Why is that?
- Stability – Research has shown that the longer a child stayed in one place (same house, same school), the higher test scores, the lower the discipline, and the higher the graduation rate and the lower teen pregnancy rate.
- Better living environment – Besides safety, children of parents who own homes experience better physical and emotional settings than renters. Families tend to eat dinner together, and have better ‘play’ areas.
- Problem solving techniques – Children of parents who own homes experience their parents ‘fixing’ things that are broken, whether it is a Do-It-Yourself project, or calling a plumber. Those skills are not to be taken lightly. Renters tend to call the landlord for all issues.
- Better learning environment – Something as simple as better lighting greatly affects the environment for children to learn, read, study. In homes of that parents own, the lighting is generally better.
- Increased education results in higher lifetime income for children of parents who own a home.
Though each family situation is unique, the study shows that home ownership is more than a financial gain. It can also be attributed to leaving a positive legacy.
For more information visit Social Benefits of Home Ownership.FIND Your Next Home Here
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