I think most people will agree that there is a financial benefit to being a homeowner. Homeowners can deduct the interest they pay on their mortgage loan, they build their net worth with increases in the value of the home, and there may be other ways to deduct some of the expenses involved in home ownership.
But there’s also a social benefit to home ownership–being part of a neighborhood. Homeowners have a stake in their neighborhoods, in their local schools, in helping maintain the value of their home by being involved in what’s going on around them.
I saw this first hand last night when I attended my local neighborhood homeowners association annual meeting. I live in a smaller neighborhood and my association is managed by residents, not by a large management firm. This helps keep my homeowner dues lower than they probably would be otherwise. But it was interesting to see and hear from many of my neighbors who take an active role with our city councilman, with our local constable, with our local schools, with city departments. We all have a common goal–to keep our neighborhood stable and protect the value of our homes.
Just like with any organization, there are a few who step up to volunteer, and many more who benefit from their efforts. I appreciate those who are willing to give their time for the benefit of all their neighbors. And it’s always nice to get to meet more people who live where you live, and who want what you want–a safe, attractive neighborhood that maintains its value and increases the value of my home.
Homeowners are much more interested in what’s going on in the city that affects their neighborhood. They listen, they ask questions, and they VOTE!
Get involved! I’ll bet you’ll be glad you did–I am!