Owning a home doesn’t just help you build wealth. It also impacts your life and your children’s lives. Here are some of the specific benefits homeowners may enjoy over renters:
1. Homeowners are healthier and live longer.
2. Owning a home reduces the likelihood of divorce.
3. Homeowners are less likely to suffer from depression.
4. City homeowners are less likely to be victims of crime.
5. Children of homeowners often achieve a higher level of education.
6. Children of homeowners are likely to earn more over their lifetimes.
7. Children of homeowners have significantly lower teen dropout and pregnancy rates.
8. Homeowners are more likely to involved in neighborhood groups.
9. Homeowners have a better understanding of politics and are more likely to vote.
Source: National Association of Realtors, Journal of Epidemiology and Community Health