Many are familiar with benefits of owning a home. Perhaps the foremost benefit in the minds of people is the status symbol of a contributing and active member of a community that home ownership provides. There is a sense of freedom associated with home ownership. If a home owner wants to change the color of a room, or install a two-story bounce house, they are free to make their dreams a reality. Of course, a home is also an investment that can increase in equity. There are additional benefits to owning a home that hide beneath the surface. Here’s a look at some of the underrated benefits of home ownership.
- Stability– Moving can be difficult and stressful. Home owners move much less frequently than renters. Stability in physical location is typically a result of financial stability.
- Education– Students living in a home tend to show higher results in educational outcomes. To a degree this can be linked to the stability of the parents.
- Psychological Heath– As with the aforementioned difficulty in changing residential locations, homeowners tend to show a higher level of psychological health
- Safety– Homeowners suffer more directly from high crime rates. It is common for home owners to band together to create and promote safe neighborhoods.