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- 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
- 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.
Source: National Association of REALTORS® Convention
- 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.