June is here and, all across the nation, the “American Dream” of homeownership will take center stage! June is National Homeownership Month, a time to celebrate and promote the dream of owning a home.
Realtors® lead the efforts to ensure that the dream of homeownership is not only possible, but very real, for any and all who want to achieve it. Homeownership has a significant impact on our communities and our quality of life.
National Homeownership Month is a celebration of the abiding value of owning a home. Homeownership impacts net worth, educational achievement, civic participation, health and overall quality of life. It serves as an enduring symbol of security and prosperity, and it provides many Americans with a valuable asset to pass down to their children and grandchildren.
The Benefits of Homeownership
Home ownership has been a vital part of the American Dream since the beginning. The home encompasses the values people came America searching for; independence, acceptance, and freedom. Americans continue to value their homes because of the important factors that affect families and communities despite economic hardships.
What kind of benefits do owning a home and stable housing offer?
- Boosted educational performance and higher participation in civic and volunteering activity.
- Improved health care outcomes and lower crime rates.
Findings show that homeownership has a significant positive impact on educational achievement. Children of homeowners tend to have higher levels of achievement in math and reading, and lower drop-out rates.
Homeowners tend to be more involved in their communities than renters. Homeowners are likely to participate in local elections, civic groups and neighborhood groups.
Homeowners and children of homeowners are generally happier and healthier than non-owners. The wealth building effect of homeownership and the sense of control it provides to homeowners in a stable housing market positively affect homeowners’ mental and physical health.
There is a lower crime rate among homeowners and people living in a stable housing environment. A stable neighborhood, independent of ownership structure, is also likely to reduce crime.