Signing closing documents is cause for celebration. It can seem strange that assuming more than $100,000 worth of debt is a moment worth commemorating – but that’s the unique nature of homeownership! The money down at closing and the mortgage to be paid into the future are tangible. Still, the long-term effects of buying a home are often intangible but extraordinarily impactful.

Homebuying builds self-confidence and a sense of well-being.

There is a sense of pride and safety that comes with being able to call something “yours.” Owning a home and having full control over the decor, landscaping, adequate room usage for each family member, and safety features like security doors, proper lighting, and properly functioning appliances is empowering and comforting to many people. To walk through the door at the end of the day and know you’re sleeping in a home that you own… it can give an enormous boost of confidence and a tremendous sense of safety, especially for someone who spent most of their life in rental housing where problematic landlords operate unrestricted. This sense of safety and improved well-being doesn’t just uplift the homebuyer, but also the entire family. It shapes trajectories of homebuyers’ children.

Homebuying supports stability.

We’ve all moved, and we’ve all experienced the headache of changing our address. Undoubtedly, you forget to change your address at several important locations, meaning you miss bills, appointment reminders or even important government paperwork. Moving requires a trip to the DMV, a call with the utility company, a trip to the local school to enroll your child, hours on the phone with the cable provider, and so many other administrative challenges. When you move into a home you own, you’re making a long-term commitment to one address – which means you’ll be able to make all of those moves one time and then reap the benefits. When rental families are forced to move frequently, it affects careers and, subsequently, income. Children will likely have to move schools, which impacts their academic success and social networks. Maintaining tenure in affordable, owner-occupied housing has proven to elevate success in the workforce and outcomes for future generations.

Homebuying inspires future generations.

At a recent celebration for new Habitat homebuyers, a little girl asked for the mic after seeing her mom commemorate signing the mortgage to buy her house. She just had to let the audience know that she too would one day own her own home.

Little eyes are always watching.

Homebuyers’ children, young relatives, and neighbors notice the consistency and stability of homeownership. They recognize the same faces opening doors year after year when they trick-or-treat. They anticipate who will wave at them as they ride their bikes home from school. And they’ll leave a hand-drawn picture of the homebuyer’s garden in their mailbox after a rainy afternoon spent indoors. Whether or not a homebuyer talks with children about homeownership, the dependability of a homeowner can be felt by all of the kids in a community.

Homebuying promotes relationships.

The cashier at the neighborhood store. The dentist down the street. The pastor’s wife at weekly prayer meetings. Each of these small, passing relationships is important to a person’s overall health. When a person buys a home, they become a planted member of the community. It’s easier, both mentally and literally, to invest time and energy in the people and businesses around them. Suddenly they have a recurring annual appointment with a local primary care provider. People knock on their door when their car hasn’t left the carport in a few days. And they bake cakes for neighbors during the holidays.

For 40 years, Memphis Habitat has helped people in and around Memphis become homebuyers. Through zero-interest home loans, we have made a measurable difference in the lives of our neighbors. But we’ve also made intangible impacts in many ways, even more than those we listed above. 

Create Impact by Giving Time or Funds. 

If you want to experience Habitat's impact firsthand, volunteering is one of the best ways to get started. This fall, our build site is open to volunteers from the general public, making it a great opportunity to pick up a hammer with Habitat for the first time.

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