There are major benefits to being a homeowner over a home renter!
The US is a nation of homeowners .
- 67 % of American households are owner occupied.
- Home is key to our economy, it accounts 15% of our Gross Domestic Product in general.
- Every home purchased, $60,000 is pumped into the economy for furniture, home improvements and related items.
Homeownership has a significant, positive impact on:
- net worth
- educational achievement
- civic participation
- overall quality of life
- Owning a home is one of the best ways to build long-term wealth. In the past 12 years, a typical homeowner’s net worth has been 31-46 times that of a renter. Plus, most homeowners enjoy stable housing costs.
It has been shown that homeowners enjoy a better quality of life, they tend to be happier and healthier, and feel a greater sense of control over their lives. They are free to redecorate, renovate and modify their homes as they wish.
So when a renter says there life is better, explain to them why home ownership matter.