What can homeownership do for you and your family?

Homeownership doesn’t just feel good. Research suggests that it has numerous benefits for children, teenagers and families. According to a study conducted by researchers at the University of Southern California and the University of San Diego, homeownership could even reduce the risk of teenage pregnancy and lower the possibility that a child will drop out of school!

Researchers found that both the dropout rate and teen birth rate among children who grew up in homes owned by their parents was lower than that of children living in rental properties.

“We found that children of homeowners fared better than children of renters….What we were surprised to discover in this study was that outcomes for children are not affected by the size of down payment,” said Richard K. Green, Professor, director of the Lusk Center for Real Estate at the University of Southern California. “We suspected that more ‘skin in the game’ by a parent would produce better outcomes for children yet we did not find that to be true, unless there is no skin in the game at all.”

Another study conducted at Ohio State University found that children of parents who own their own homes score higher in reading and math and have fewer behavioral problems!

Whether you’re interested in buying an existing home or building a new one, get to know First Utah Bank’s home lending team.