Health and Happiness: The Societal Benefits of Homeownership

There are many financial benefits of homeownership such as; building equity, having control over expenses, long term savings, etc. Often, societal benefits are less recognizable, such as the happiness of others, health benefits, and engagement in society.

Non-Financial Benefits of Owning a Home

Homeownership contributes to greater levels of happiness and satisfaction in life for homeowners and their families. Many non-financial benefits come from homeownership including, education, health and socio-cultural benefits.

Beyond the homeowner and their family, non-financial benefits also create benefits to the community and the rest of society. Demographics, ethnicities, income and age are not factors.

The high levels of happiness and life satisfaction result in a number of reasons including putting your roots down in a home, a sense of financial security and being in control of your life.

Building Pride and Stability Owning a Home

Having a place you call home, feel proud of and comfortable in is a great feeling. The pride that comes along with homeownership that affects behaviour and choices. Homeownership comes with many financial benefits such as building equity, but it also creates more positive communities for the reason being those who have somewhere to call home often want to live in a more desired neighbourhood.