For many families, the jump to home-ownership can mean the difference between whether they eat dinner that night. To possess a home will vastly improve a family’s situation financially, mentally, and physically.
Financially, home-ownership provides an outstanding foundation on which to build. In the case of this family, since their mortgage was intrest free, their monthly payments were lower than that of the rent in their previous apartment. This meant more money at the end of the month. Also, there was no chance of the rate increasing, whereas the owner of their apartment complex could have increased the rent cost. Plus, because with a mortgage you are paying for goods as opposed to paying rent for a service, the payments eventually end, so you are guaranteed more capital in the future.
Mentally, the safer neighborhood provides a break from the stress of the day that would normally be perpetuated by the violence that constantly surrounded them at their apartment complex. Not only that, but from person experience,when people aquire more personal space, relations between members of the family improve dramatically. The improved neighborhood also greatly reduces the risk of harm coming to the children who live therein.
And so, in the case of the Evans family, their lives were dramatically improved in the aquiring of their home. Not only did their fiscal situation become far less bleak, but their relationships with each other and within themselves improved as well, and the danger which was ever-present in their old neighborhood is no longer an issue.
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