Most people recognize the tangible benefits of home ownership, such as a nice write-off on property taxes and building equity for the future. But there are many more benefits of home purchase that affect us emotionally – and they are significant.
A study conducted by Harvard University’s Joint Center for Housing Studies showed that people who have gone through the home purchase process are more likely to be satisfied with their neighborhoods and homes, more likely to get involved in the community, more likely to participate in political or voluntary activities, and more likely to stay in their homes longer.
Parents who have made a home purchase may be boosting their children’s educational achievements and reducing behavioral issues, according to research by Ohio State University which was published in the Journal of Real Estate Finance and Economics. This study revealed that children living in owned homes, as opposed to rented homes, scored 9 percent higher for math and 7 percent higher for reading. Plus, behavioral problems were between 1 and 3 percent lower.
The study’s conclusion was that home purchase appears to benefit children because of the environment. Factors such as safety, security, and accessibility to educational materials were, on average, better than in rented homes.
Home purchase also increases our enjoyment of life. Buying a home is an important goal for most Americans because it symbolizes financial stability and a rise in economic status. Beyond that, owning a home increases self-esteem and makes people feel better about themselves.
The Buyer’s Agent of Asheville is dedicated to help clients find homes they can adore and afford. With its team of 10 experienced real estate brokers, The Buyer’s Agent of Asheville has been loyally assisting home buyers in the Asheville, North Carolina area. We’re focused to search for ideal homes without distractions, shady deals, and conflicts of interest. Please make an appointment to visit our offices at 82 Patton Ave, Suite 211, Asheville (map) by calling our 24/7 service number: (828) 210-4663.