Home Ownership Better for Children, Survey Finds

Children do better at school when their family moves from renting to home ownership.

Becoming a homeowner makes families smarter, happier, healthier, and richer, according to a survey of Habitat for Humanity Canada homeowners by the Canada Mortgage and Housing Corp.

Habitat homeowners contribute 500 hours of sweat equity toward the purchase of their home and in exchange receive interest-free mortgages with no downpayment. CMHC surveyed more than 300 Habitat homeowners and found, across the board, the homeowners reported improvement in their children’s well-being and school performance including:

• Higher grades
• Increased enjoyment of school
• Better attendance
• Higher participation rates in sports, music and arts, and volunteering

The respondents also reported other gains:

• 89% said their family life improved.
• 78% said their own health and their family’s health was better.
• 58% reported they were better off financially.
• 25% had spouses who entered the workforce.
• 17% returned to school, and 21.5% did something else to upgrade their skills.