Homeowners are more active in their communities, have better education opportunities and enjoy higher levels of happiness when compared to renters, according to a research report from the National Association of Realtors.
The report, exploring the social outcomes of home ownership, finds that home owners and stable communities go hand-in-hand. Because people who own homes move less frequently than renters, they tend to stay embedded in the same neighborhood, creating social connections and stronger communities.
Research included in the report also notes a positive link between homeownership and educational achievement, because these teenagers decide to stay in school. Homeowners have a higher rate of membership in volunteer organizations, the study adds, and are also more likely to vote in local elections than renters.
Another positive offshoot of home owning is greater involvement in Neighborhood Watch and other crime prevention programs.
With the stronger social ties and closer communities that accompany home owning, people can enjoy the long-term financial and intangible benefits of owning a home.