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To create a happy and stable wealth for our families, we will face many competitive pressures in the future, from vehicles to college education, from retirement to housing. It always takes a lot of effort to distinguish between priorities. However, the most clear financial objective above is that the best asset objective is: real estate.
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Habitat, which allows poor families to have their own homes, has collected existing research, and the International Habitat for Humanity organization, which is committed to helping poor families solve housing problems, has conducted many research surveys to help people understand the benefits of real estate.
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Children’s academic performance: owning a house is good for your children. Children living in their own houses scored 9% higher in math and 7% higher in reading than children living in rented houses. More than 25% of children living in their own houses graduated from high school. The proportion of children living in self owned houses who graduated from college is twice as high as that of children living in rented houses.
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Parenting problems: The children of tenants face greater parenting problems. Surprisingly, compared with children in their own houses, teenagers from tenant families are 40% more likely to have children out of wedlock.
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Future income of children: Compared with the children of tenants, children with own houses earn an average of one dollar more per hour. After the children of self owned houses reach adulthood, only half of the children of tenants live on government welfare.
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Family stability: Although the report shows that the income of owners of self owned houses is twice that of tenants, it is not clear whether self owned houses are so important. However, it can be speculated that the stability of self owned houses is conducive to career development. Compared with the children of tenants, the children of self owned housing families are half as likely to grow up under the environment of single parents or relying on government relief.
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Sun Tzu: Almost 60% of children born in self owned housing families can own their own houses when they grow up, and self owned housing families can also benefit the next generation.
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Forced deposit: The economic benefits of self owned houses are very impressive, and housing mortgage has become the driving force to force families to make savings plans. The net value of houses is difficult to consume, so families can accumulate meaningful net assets. Although savings and other asset investments can also generate income for tenants, most are not as good as home equity.
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Retirement savings: Before retirement, you should also apply for housing loans. Asset housing is the core asset of your retirement period. Free housing can help you derive other retirement assets and make your retirement life secure.
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Happiness: The survey shows that the happiness of owner occupiers is higher than that of renters.
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Community basis: The home time of owners of self owned houses is four times higher than that of tenants on average. This may explain why homeowners are more likely to vote, get to know members of Congress, and get to know local school board leaders.
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There are a large number of projects that can help low-income families to buy houses. The Federal Housing Administration provides low down payment housing loans; The department of ex servicemen provides qualified ex servicemen with zero down payment housing loans; Many state and municipal governments provide housing purchase assistance. If you choose to buy a house as your first choice, it will eventually become a reality.