Tag Archives: Owner-occupier

Home Ownership Enriches Family


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As a mother of 3 beautiful and talented children, I’m always looking for ways to enrich and foster the lives of my children and to enlighten myself as a parent so I’m always researching and reading. During my reading time I ran across some information about children and home ownership that I wanted to share since I am a mother, real estate agent, and homeowner.

While this information isn’t necessarily my personal opinion, I found it interesting to share so take from it what you will. I believe that whether you rent, own, or live in a box, great parenting and communications skills (and other factors) greatly affect our children’s future as well. However, when you have to decide whether or not which route to take – renting or owning – consider the enrichment of home ownership.

There are so many positive attributes that home ownership has on family, especially children. Not only does a home provide safety, security, and meets our basic need of shelter, but studies (one in particular by Donald Haurin – Retired Research Scientist from Ohio State University) show that home ownership increases the likelihood of children obtaining higher levels of education, improved self-esteem and confidence, and lower teen pregnancy rates.

The living environment of the home played a key factor in this conclusion. The results were measured by a survey given to a group of parents. Homes usually have better quality lighting, more educational materials available (a variety of magazines and books), structured family activities, a well-organized play room, a study, etc. Not only did these improved benefits affect children, but also homeowners have more stability and live in homes longer than rentals or other living arrangements. This stability allows for children to stay in the same schools longer and to build strong community relationships.

BOTTOM LINE

Owning your own home (coupled with other factors) adds value to your family and the future of your children. Choose wisely when thinking about whether buying or renting is the best option. It’s a fact that no one knows your situation better than you. No matter where you live (if you’re unable to own a home), make sure your living environment secures and enriches the child.

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Bought A Home? Scared of Being Unemployed?


Piggy Bank

The possibility of unemployment is a big threat or worry for lots of families these days.  Yet, we still need to move, get a bigger house, or are sick and tired of renting.

Well my company, Allen Tate, has a wonderful program,  The Job Loss Protection Program, which provides security if you find yourself in the unfortunate situation of being laid off after you’ve purchased a home.

Read more about this great program from the Allen Tate Blog, At Home In the Carolinas.  Let’s see what Regina Walker has to say.  Here’s her blog post:

Last year, I found myself in the very unfortunate position of being laid-off.
I had thought that with the downturn of the economy I could find myself
in this situation, but I really thought I would have some idea it was coming
before it happened. Well, I didn’t. I had no idea.

The first of many thoughts was, “Oh my gosh, how am I going to afford
my house?”, then I went into an immediate panic.

“What if I become unemployed after I purchase a home?” is a common concern we
hear in the Client Relations department at the Allen Tate Company. With recent
unemployment rates near 9%, what buyer wouldn’t consider this as a
possibility?

The “Job Loss Protection Program” is an option offered through Allen Tate that can
protect a buyer in the event they are laid off.

Job Loss Protection is not a new concept. It has been traditionally offered
in other industries, such as the automobile industry.

Basically, if a buyer loses his or her job in the first 2 years of
home ownership, they can qualify for payment benefits which helps out when
savings is not sufficient to cover mortgage payments.

Here are some points on the program:

  • Provides up to 6 months of mortgage payments during the first 24 months from
    date of closing if the borrower or co-borrower becomes involuntarily unemployed
  • Coverage up to $1,800 per month
  • Properties listed for sale by Allen Tate Company or purchased through an
    Allen Tate Realtor® are eligible for coverage under this program.
  • Cost of program is $595, payable at closing.
  • Buyer will receive information packet within 45 days of closing to explain
    program

In my case, I was able to find a position within 6 weeks. I would have liked
the safety net and peace of mind to know that my mortgage payments could have
been covered, but unfortunately I did not know that this type of program even
existed. If losing your job hinders your decision to purchase a home,
this is a program that can help put your mind at ease!

By Regina Walter

Very informative.  I wanted to share this blog because it is a great program that can benefit many families.  It’s a great way for a seller to get their home sold by offering this product.  Think of it being helpful just like offering a home warranty.  These days we need job security!  Amen?


NOW is the Time to Buy a Home!


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Now is the perfect time to buy a home!  Inventory is still high and rates are still low.  Buying a home is the American Dream, and it’s the right time to wake up and speak with a financial specialist and a professional real estate agent, me.  I also have terrific mortgage partners, if you don’t have one.  🙂

Naysayers Agree.. Buy Now!

Here’s a great article from The KCM Crew and their blog post, entitled “Even the Naysayers are Saying to Buy Now!”  Read what they blogged below:

Rent or Own?

Business School professors Eli Beracha of East Carolina University and Ken H. Johnson of Florida International University have done extensive research on which makes more sense financially: to rent or own a home. They published, Lessons from Over 30 Years of Buy versus Rent Decisions: Is the American Dream Always Wise?  In their paper, the professors do not dispute the social benefits of homeownership:

“Home ownership is touted as the “American Dream”. It is credited with enhancing wealth, increasing civic pride, improving self-esteem, crime prevention, child development, and better educational outcomes, among other benefits. This paper does not dispute any of these claims.”

What the professors were proposing is that homeownership is not a better investment strategy than renting. The first of the two major findings was:

“After setting the holding period to the average American’s tenure in a residence, renting (not buying) proves to be the superior investment strategy over most of the study period… Individuals, on average, were better off in economic terms to have rented for most of the years in the study period. This first result is strongly dependent upon fiscally disciplined individuals that, without fail, reinvest any residual savings from renting.”

Historically, people do not actually reinvest savings “without fail”.  Check here for the findings of a recent study from The Joint Center for Housing Studies at Harvard.

The second major finding says it all. According to both professors Beracha and Johnson, NOW IS THE TIME TO BUY!

“(F)undamental drivers now appear to be in place that favor homeownership over renting in the near term future…

The second finding might seem unwise to many given the recent crash in the real estate markets around the country. However, rent-to-price ratios now seem to be in place along with other fundamental drivers that favor ownership over renting.”

They conclude their research paper with this sentence:

“Conditions (historically low mortgage rates and relatively low rent-to-price ratios) now seem in place to favor future purchases.”

Bottom Line

Two researchers set out to prove that homeownership is not a good financial decision. After completing that research, they have determined that now is the time to buy. What more needs to be said?


Storms? What about the kids…


Large, violent tornadoes can cause catastrophi...

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Natural Disasters Can Cause Anxiety in Children

A little over a week ago, terrible tornadoes hit all over the state of North Carolina.  Many of them affected the Triangle area, even my very own neighborhood.  Friends and family were displaced, lost homes, had minor to major damage, but most of all, in my opinion, the greatest impact was on the children in each household.

Where am I going with this?  Know this quote? “A house is built with boards and beams; a home is made with love and dreams.”  Well, home ownership is the American dream, and we buy with the intent to stay in our home for a very long time with our loved ones ~ our family, our children.  Sometimes, natural disasters, just like the ones we had in our area a week ago, affect our home, but can be traumatic to those we love.

I’m a mother of three children, 2 girls (Lorin and Logan) and a boy (Jonathan), all under the age 12.  Naturally, in my household just the mention of the word “storm” sends them into a frenzy.  They get clingy, nervous, and very anxious.  Usually, two of them (if not all) end up in my bed. Like I said earlier, when a storm is mentioned on the news, my middle girl becomes a nervous wreck.  “Is it coming here?  When?  Watch or warning?  Lightning or just rain?”  We try our very best to distract her with games and chit chat, but at the same time, remind her of the noises she may hear.  That helps her a lot!

What about when you can’t prepare your family for a tornado or storm? You can help your children through the emotional distresses after natural disasters by remaining as calm as possible and reassuring them that everything will be alright.  Kinda hard to do, I know!  We were hit too, but, fortunately, we were spared from damage to our home.  However, it’s a day my kids and husband will never, ever forget.  I won’t either!!  The sounds, the wind, the flying debris, the pressure from the wind was terrifying!

In the confusion and frustration of repairing and rebuilding, please remember to pay attention to distresses in your kids as well.  Some signs to look for include thumb-sucking, bed-wetting, nightmares,  fear of the dark, loss of appetite, and so on.  As parents, by nature we put our children first, but please don’t forget about yourself and seek the support you need.

That’s all for this blog.  I truly hope that you’ve found it helpful.  Thanks for your support of our future ~ our children.


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