There are many types of benefits to owning a home. Apart from the obvious financial implications, there are many social benefits that improve quality of life and strengthen family values. Homeowners are happier and healthier than non-owners, says a recent report by the National Association of Realtors® (NAR). Homeowners are also more satisfied with their personal situation when compared to renters; and studies have even discovered that daughters of homeowners have a lower rate of teenage pregnancy.

Homeowners move less frequently than renters, creating in them a sense of responsibility and care for their home and community. They tend to have more social ties than renters, allowing the time to create lasting relationships, and more involvement in local politics and community happenings.

It is believed that certain behavioral qualities and life management skills associated with owning a home and managing a mortgage are passed down from parents to children. The California Association of Realtors, put together this graph outlining some of the main social benefits of owning a home.