The Civic Side of Homeownership

Are you involved in your community? As Realtors, Charlotte and Connie believe in the value of participating in events and organizations in your home town.  The Ransom-McKenzie Team would like to take a moment to share with you this current data which relates to home ownership and civic involvement.

The Impact of Homeownership on Civic Involvement | Keeping Current Matters

The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans:

“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”

Today, we want to cover the section of the report that quoted several studies concentrating on the impact homeownership has on the civic participation of family members. Here are some of the major findings on this issue revealed in the report:

  • Homeowners have a much greater financial stake in their neighborhoods than renters. With the median national home price in 2015 at $223,900, even a 5% decline in home values will translate into a loss of more than $11,195 for a typical homeowner.
  • Because owners tend to remain in their homes longer, they add a degree of stability to their neighborhood.
  • Homeowners also reap the financial gains of any appreciation in the value of their home, so they also tend to spend more time and money maintaining their residence, which also contributes to the overall quality of the surrounding community.
  • Homeowners were found to be more politically active than renters with 77% of homeowners saying they had at some point voted in local elections compared with 52% of renters.
  • There seems to be a greater awareness of the political process among homeowners. About 38% of homeowners knew the name of their local school board representative, compared with only 20% of renters.
  • There is a higher incidence of membership in voluntary organizations and church attendance among homeowners.
  • Homeownership does create social capital and provide residents with a platform from which to connect and interact with neighbors.
  • Owning a home means owning part of a neighborhood, and a homeowner’s feelings of commitment to the home can arouse feelings of commitment to the neighborhood, which, in turn, can produce interactions with neighbors.

Bottom Line

People often talk about the financial benefits of homeownership. As we can see, there are also social benefits of owning your own home. The City of Riverside is a great place to get out and get involved. Charlotte & Connie are involved in a number of organizations and would be happy to help you find the right group to help you get involved.  Give us a call today to discuss your civic involvement at 951-237-2044.

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Engage Riverside!

Engage Riverside

The Ransom-McKenzie Team sits on the Riverside Champions Council which is part of Riverside’s Seizing Our Destiny plan. This strategic plan creates ideas and actions to ensure that we continue to move forward towards “Riverside’s Prosperous Future”.

You can participate in Riverside’s plan as well by engaging with the City through their “Engage Riverside” website.  There are links on this webpage to view and comment on City Council agenda items, and there are links to share ideas you have, or answer survey questions from the city.  You can also review city budgets and check out city data from sources such as the city’s 311 hotline or crime reports.  Being involved in what’s going on in town has never been easier.

We’re excited about where Riverside is going and look forward to sharing our city’s “wins” with you as we continue to experience positive designations in 2015. As part of the Council we sit on the “Location of Choice” pillar committee.  The committee members talk about what currently makes Riverside a location of choice, but we also discuss what we would like to see in the future to make it even better.

Join in the conversation with us.  What would you like to see in Riverside that would make it even more a “Location of Choice”?