Buy a Home — Home Ownership Matters

Published by nora | Filed under Buyer / Seller Tips, Communities, Miscellaneous, Real Estate

There are at least 9 reasons why Americans should buy a home and why home ownership matters, according to the National Association of Realtors. It’s for these reasons that NAR has embarked on a nationwide campaign to encourage people to make the decision to buy a home or to start preparing for a home purchase.

The 9 major reasons identified by NAR highlight the positive impacts of home ownership to families, to the community and to the overall economic health of the nation.

These are the 9 major reasons why Americans should buy a home, based on various studies conducted by NAR:

1.  Families that own homes are healthier and happier.  This is because they have greater control of their domestic affairs. They don’t have to manage their housing unit according to the rules of a landlord and they can make any home improvement that they desire.
Children living in homes their families own perform better in school. They also stay longer in school. The stability that home ownership provides encompasses both adults and children.

2.  Homeowners’ children also participate more in school, after-school and community activities and spend less time watching television.

3.  Similarly, as their children join youth activities, homeowners also participate in programs that improve the community. Volunteerism is stronger among homeowners as they have a stake in their neighborhoods.

4.  Homeowners contribute significantly to the stability of neighborhoods, and ultimately, to the stability of towns, counties, states and the nation. As home owners don’t frequently move, they develop relationships with their neighbors, becoming protectors of each other’s families and ultimately, their neighborhoods. Crime rate is greatly reduced in places where more people are concerned about their communities.

5.  Home ownership is also among the best ways to build personal wealth. Based on housing data collected over the years, the net worth of an average home owner has shot up to about 46 times that of a renter.

6.  About 80 to 90 percent of total federal income taxes come from home owners. This huge percentage is a substantial contribution to the national fund that moves federal programs for all Americans.

7.  It was estimated that every house purchased adds $60,000 to the economy as homeowners buy home improvement materials, furniture, appliances and housing accessories.

8.  With the above expenditures, housing accounts for over 15 percent of the U.S. gross domestic product, another proof of the significant role of housing in any economy.
Additionally, it was also found that home owners vote more, again promoting good citizenship in the country.

9.  All in all, most Americans recognize the value of home ownership, as 67 percent of U.S. households are occupied by home owners.

Become a home owner. Tampa4U.com will help you find your dream home in Tampa.