Belonging to a community

One of the biggest and most important benefits of joining the legion of homeowners - and one that is not often considered - is belonging to a real community. You may not think of yourself as a "community-type" - the kind of person who socializes much with the neighbors or goes to homeowner association meetings - but even if you're not, that doesn't change the fact that living in a neighborhood is every bit as valuable an amenity as, for example, having a community swimming pool.

Many studies conducted over the years have found there are very real social benefits of owning a home and living in a healthy neighborhood. National studies have shown that people who own homes, vote more often, participate in their communities more often, and they even volunteer... more often than people who rent.

Homeowners in strong communities enjoy much lower crime rates, have better schools and more educational opportunities for their children, and even enjoy better health than people who are not invested in where they live.

Take the Joint Center for Housing Studies at Harvard, for instance. They report that "Children of homeowners have better home environments, high cognitive test scores, and fewer behavioural problems than do children of renters." Another study, this one done by the Federal Reserve, found that homeowners have, on average, a net worth that is 46 times that...of average renters.

And it's not just a one way street, in which buying a house makes your life more stable. The reverse is true, too. Buying a home can help make the community you're moving in to more stable too, because putting down roots, getting involved, and maintaining your property all help any neighborhood grow stronger.

Is there any wonder then, that the notion of owning a home is known as "the American Dream"? The government certainly recognizes the social benefits of community investment, and that's why our public policies encourage us all to become homeowners, through a long list of tax breaks and other incentives designed to get consumers to enjoy the benefits and accept the responsibilities of becoming home owners.

We should point out there are also are more "social" social benefits to owning a home. Often, you will find many of your fellow homeowners to be facing lots in life that are surprisingly similar to yours - you'll have similar incomes, and often, similar careers. Your children may be close in age, and, especially for young homebuyers, you might even find you don't have a lot of disposable cash for going out on the town.

You'll be sitting next to each other at the neighborhood pool, if you have one, and collecting each others' mail when you go away on vacation. Maybe you'll start, or join a neighborhood watch. You may soon find yourself babysitting each others' kids, going to their soccer matches and school plays, and someday, going to their weddings, too.

And even if you do move away, don't be surprised when you find that you're leaving behind neighbors that will be friends for life - all because you happened to buy homes in the same neighborhood.

The bottom line here is, buying a home is about more than the bottom line. It's about your life. And how you choose to live it.

So for all of you who are planning to buy or sell, in the Spring Market 2010... all of us here at Real Estate Today wish you... the very best.