January 02, 2011

On the ninth day...

...Although there are definitely more, here are nine ways in which the home rehab work RTA provides impacts the lives of homeowners, either directly or by preserving homeownership:

* The repairs provide immediate financial stability by reducing the direct cost of home maintenance, like energy bills.
* The repairs provide an increasing a sense of safety by reducing or eliminating hazardous conditions, from electrical, plumbing, heating, or structural.
* The repairs can increase a sense of independence by providing modifications that allow individuals with disabilities or mobility issues to access their whole home.
* Home owners do not move as frequently as renters, providing more neighborhood stability. In turn, this stability helps reduce crime and supports neighborhood upkeep.
* Children of home owners do better in school, stay in school longer, are more likely to participate in organized activities and spend less time in front of the television.
* People who own homes vote more, volunteer more and contribute more to their neighborhoods.
* People who own homes report a much higher level of life satisfaction than continual renters…
* … but buyers who reported having difficulty paying for needed repairs report significantly lower levels of life satisfaction than those that don’t!
* Owning a home is one of the best ways to build long-term wealth. Historically, a home owner’s net worth has ranged from 31 to 46 times that of a renter.

Some stats sourced from the National Association of Realtors

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