How Homeownership Changes Lives

Building equity, stability and being more mindful of spending are all benefits of homeownership. However, home extends beyond the literal. Habitat families are rewarded with safety, community and a place to make lifelong memories.

Benefits of homeownership


Buying a home is one of the biggest financial decisions of a person’s life. It’s an intimidating commitment up front, but allows the ability to create long term wealth and investment for the future.

Over time, homeownership allows one to build equity by contributing to monthly payments. For many families, this option provides more financial opportunity for the future than monthly payments to a landlord as it allows more opportunity to contribute to long-term savings, and build general weath.

Speaking of the future, there has been research suggesting that homeownership rates peak at retirement. This suggests that buying a home promotes financial stability by becoming a source of retirement savings.

Control over day-to-day costs

When we ask our Habitat families why they’re looking to enroll in the program and purchase a home, rent prices are quick to enter the discussion.
Habitat homeowner Lakatelyn Cooper found hikes in rent prices “unaffordable” and left her and her children “living paycheck to paycheck”.

As the demand for living in Dallas increases, so do rent prices. Many families are being pushed out of neighborhoods due to the inability to control their monthly home payments. Currently, 1 in 6 households spend half their income on housing. Therefore, many families are looking towards homeownership as a way to manage their day-to-day expenses.


Owning a home comes with a strong sense of accomplishment – including for our Habitat families. A common misconception is that Habitat homeowners are given their homes at no cost. However, Habitat homeowners own their home through sweat equity, require money management courses and are in full ownership of the mortgage at the end of the program.

Socially, the ability to own a home is a game changer for these families. Research has shown there is a direct correlation between decreased crime rates and homeownership in neighborhoods and cities.

From a community building perspective, there is also an alignment. Homeowners are more likely to stay in one place longer than renters, as a result, become more invested in civic participation. Homeownership also promotes consciousness. Compared to renting, homeowners have full control over their property. Therefore, they are more likely to invest in upkeep, and the value of the home.

Habitat Homeownership

Dallas Area Habitat continues to work hard to provide safe, affordable housing for families in need through ongoing money management classes, mentorship and partnerships. If you’re interested in learning more about what we do, you can learn more here.