Our real estate agents at KALEO Real Estate Company are facilitating people becoming homeowners. They are helping people who have been renting become homeowners. This is one of the biggest steps in anyone’s life: purchasing their first home. 

 

Benefits of Home Ownership

There are huge social benefits of home ownership. Evidence in multiple studies shows that home ownership “boosts the educational performance of children, induces higher participation in civic and volunteering activity, improves health care outcomes, lowers crime rate and lessens welfare dependency.”*

Why is home ownership connected to higher civic participation and volunteering activity? Some of it might be attributed to the fact that people who own homes move less frequently than renters. The longer you live in a community, the more you are invested in it. It can change your perspective from, “I am just here for a couple years, so that doesn’t affect me” to “I want to go to the City Planning meeting at City Hall because I care about what developments and new businesses are opening down the street from me.”

Volunteering at food pantries, schools, churches, and other organizations can have big positive effects in neighborhoods. Those are all things to be thankful for! 

Overall, we see that home ownership impacts communities in the following ways:

  • Higher educational achievement
  • Increased civic participation
  • Health benefits and increased happiness
  • Reduced crime

As with all studies, it is important to remember that there may be other factors that contribute to an effect aside from home ownership rates. For example, the higher education achievement may be correlated to home ownership or may be attributed to other factors like “stable housing or favorable neighborhood characteristics”. 

 

Ways to Give Back in Gratitude During November

KALEO Real Estate Company is focusing on gratitude during the month of November. We are sharing videos of what our real estate agents and staff are grateful for this month. We can be grateful for small things (an extra hour of sleep) or a good cup of coffee in the morning, as well as the big things like family, friends, good health, and a city that we love to live in. 
 

Source: * Yun, Lawrence and Evangelou, Nadia. “Social Benefits of Homeownership and Stable Housing”, The Journal of the Center for Real Estate Studies



This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.