Home owners are happier and healthier and enjoy a greater feeling of control over their lives.
Owning a home is one of the best ways to build longterm wealth. Historically, a home owner’s net worth has ranged 31 to 46 times that of a renter.
Homeowners are free to redecorat,e renovate and modify their homes as they wish.
Most Homeowners enjoy stable housing costs — a fixed rate mortgage payment might not change for 15 to 30 years while rent typically increases 3% a year.
Homeowners can typically deduct mortgage interest and property taxes on their federal individual income tax return
To Communities…….
People who own homes vote more often and volunteer more to their neighborhoods.
Home owners do not move as frequently as renters, providing more neighborhood stability. In turn, this stability helps reduce crime and supports neighborhood upkeep.
Children of homeowners do better in school, stay in school longer, are more likely to participate in organized activities and spend less time in front of tv.
To America…..
67% of American households are owner occupied. America is a nation of home owners.
Homeowners pay 80% to 90% of Federal individual income taxes, contributing to federal programs that benefit all Americans.
Every home purchased pumps $60,000 into the economy for furniture, home improvements and related items.
Housing accounts for more than 15% of the national gross Domestic Product, a key driver of our national economy.
For these reasons and more, home ownership is the American Dream.
Source: National Association of REALTORS® Convention