Allston Brighton Community Development Corporation

Working together, building community

Simply because homeownership changes lives for the better. From the individual to community to societal levels, homeownership provides rippling benefits from one generation to the next.

On the individual level, homeownership satisfies both the need for shelter and the desire to own property. The stability it creates in the lives of the homeowners and their dependents allows for greater achievements in school, work, and community. Additionally, homeowners have greater lifetime financial achievement when compared to renters. The wealth accumulation many homeowners experience is passed down to subsequent generations, thereby creating more financially secure households down family lines.

A community with more involved and engaged homeowners will benefit from inputs of capital and social investment. Homeowners tend to spend money locally in their communities which can benefit locally-owned businesses. They also tend to invest their time and energy in their communities thus enriching the social fabric that exists there. Municipalities also benefit from homeownership through property taxes, which allows the maintenance and development of programs and infrastructure for the benefit of the community. Generally, communities with higher rates of homeownership experience more of these benefits.

The valuation and sentiment attached to homeownership is partially influenced by society, and the US undoubtedly views homeownership as a beacon of great achievement. The value of homeownership in our country is so much so that nation-wide we have laws, funding, and special programs to aid in obtaining and maintaining homeownership. For this, homeownership spurs a profitable economic engine that many benefit from, from the homeowner to real estate investors and many in between. The real estate market is embedded in the operations of our society and the jobs it creates make a livelihood for many.

Stability, financial well-being, social enrichment, and employment are just a few of the benefits of homeownership that contribute to a better quality of life across the country and make homeownership important.

©Allston Brighton CDC | 18R Shepard Street, Suite 100 | Brighton, MA 02135 | p: 617.787.3874 | f: 617.787.0425 | TTY: 711