Tuesday, August 24, 2021 - by Robert Backer, president, Greater Chattanooga Realtors
Most consumers know that homeownership is among the most sound investments an individual can make to begin building their personal wealth. However, owning a home is not just in the best interest of the homeowner. Homeownership provides social stability, builds communities, and is a driving force for the national economy.
For those reasons, Greater Chattanooga REALTORS is proud of our ongoing partnership with Habitat for Humanity of Greater Chattanooga Area. Through both of our organizations, we get to witness firsthand how homeownership can transform lives and communities.
On August 30, Greater Chattanooga REALTORS will host Tee Up & Wine Down for Habitat in just a few days.
The event is a massive undertaking by our Community Partnerships Committee, and the result of all their hard work is a lot of fun. Even more rewarding is the event raises funds to assist Habitat in building affordable homes for our neighbors.
Sure, we enjoy the all-day event, including golfing, wine tasting, and a silent and live auction. But we put on this event for reasons much more significant than a fun day away from our real estate business. Both REALTORS and Habitat believe in the power of the American Dream, which has proven to reap so many benefits, as outlined below.
Social stability: Improved educational performance, lower crime rates, and improved health are a few social benefits linked to homeownership. Homeownership allows households to accumulate wealth, which opens doors to more engagement in communities through volunteer work, involvement in social activities, and electoral participation.
Strong communities: Homeowners tend to stay in their homes longer than renters, dedicate more money to improve their home and are more engaged in enhancing their community. Homeowners are often more invested in their home and their surroundings, which leads to stronger neighborhoods and communities and increased interaction between neighbors.
Economic force: Being a homeowner also has a positive local and national economic impact. That is because homeownership creates jobs through remodeling, landscaping, lawn service, furniture and appliances, home improvement, and real estate services. When a home is sold in the United States, the income generated from real estate-related industries is over $20,000 and additional expenditures on consumer items is about $4,500 – a boom to the economy.
Brings families together: Along with being more involved in their communities, homeowners are often active and connected to their own families. Family dinners and game nights at home could mean a more-connected, happier family.