Even though the economic benefits of property are invariably and almost exclusively extolled, other “soft” advantages play an equally vital role in building families up.
So says Bill Rawson, chairman of Rawson Properties, who adds that the psychological and social benefits of homeownership are often underemphasised.
“Until now, agents have often tended to emphasise the economic benefits of home owning – the fact is that this is one of the few ways in which the salaried family man can get gearing for a large investment/nest egg.
“This is a valid concept and should always be borne in mind. But the recent economic downturn has shown clearly that huge peace of mind can be, and is, given to homeowners in volatile times like the present when the future is not at all clear. Homes are increasingly seen as a haven, a retreat to which the hard-pressed wage earner can retire at the end of his day.
“As a Human Science Research Council (HSRC) survey has already shown, homes tend to confer stability on families. The split-up rate among renting families or couples is significantly higher than among homeowners and the school results of children living in their own homes also tend to be better than those from rented properties.”
Rawson himself has just completed an upgrade to his home.
“There are two very satisfying aspects to this: The first is that we have added considerably to the value of the home. The second is that the enlarged and improved facilities attract the offspring back. Most of my children are out in the world and earning their own living.
“This, to me, is by far the greatest benefit of the upgrade. It has shown me once again that one cannot overvalue the psychological benefits of being a homeowner.”
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