MENU
fav-icon
 
Compare

Blog banner

How living on rent can impact child’s development and upbringing

By Lodha 15 March 2020

Home is where the heart is. It truly symbolizes everything central to human existence. Over the years, few things have captivated the heart, mind, and soul of people as much as the concept of homeownership. Buying a home has become a symbol of success, a sign of having made it into society and also a source of security, stability.

Yet, propelled by urbanisation and employment opportunities, past several decades has given popularity to rental homes. When moving to a new city for employment, rather than buying a house people preferred renting a house. Doing so allowed them to stay close to work place as well as the flexibility to move as required without being tied to an asset. While this works out well for the adults, the same cannot be said about children. In this article, we explore what children may miss out on as the as the result of living in a rented accommodation.

An opportunity to develop a broader view
One of the greatest lessons that homeownership teaches children is the sense of a greater worldview. It provides glimpses into what their worldview should or rather should not just be limited to. For instance, homeowners have a greater incentive to participate in local activities or even civic life. Research has found that homeowners are more likely to vote during elections than renters3. In addition, owners also tend to actively participate in bringing about change in their local communities. Children who grow up under these conditions are generally more prone to think outward about what is best for society; as opposed to limiting themselves to their home or their family.

Creating a sense of stability and rootedness
Homeownership offers a child more stability for obvious reasons. Not having to move every few years or a child bereft of the fear of being evicted grows up being more grounded. This sense of ownership leads to greater confidence and the ability to pursue life dreams even though they may seem unattainable. The home stands as a base from where all dreams can be achieved - “win or lose, at the end of the day I can go back to the safety of MY home.”

Another facet of a child’s stability is the impact it has on their school life. Children who see constant changes in school as a result of moving residence are generally less confident and socially awkward4. This can be in part due to the challenge with becoming acquainted with their peers, unfamiliarity with teachers, or just coming to terms with their surroundings. By the time a child does eventually come to terms with their new surroundings, it may be time to move on. On the other hand, a child who grows up knowing that at the end of the school year they will return, come what may, grows up self-assured and headstrong. They are also less distracted and can expend all their energy on school activities. A number of studies have shown that children of owners generally tend to do better in school than children of renters.

Developing stronger bonds
Children relate to homes a lot differently than adults. For most adults, a home is considered as an asset that grows in value over time. For children, it’s a more emotional experience that inculcates a lot of what surrounds them with memories overtime. In this sense, children of owners have a greater incentive to maintain the property and its surroundings than renters. Numerous studies have shown that children of homeowners participate in the outdoors more actively. There is also evidence to suggest that participation in maintaining and uplifting public spaces is more inherent among homeowner children5.

In addition to a great education, the greatest gift a parent can give their child is a safe and secure home. A home can bring about a transformative change in how a child sees themselves and the community around them. Next time when you look at a home, remember that it goes way beyond just the physical building and consider the years of memories attached to it.


*1https://www.housingfinance.com/news/housing-ranks-high-as-priority_o
*2https://www.entrepreneur.com/article/280915

*3https://www.prb.org/whovotesinamerica/
*4https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3800115/
*5https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5573739/

TAGS

Similar Blog Posts

Perspective

Building a better life, shap...

BY LODHA
05-06-2021

During the last few decades, we have grown as a company, and a nation, at an unprecedented rate.

TAGS

Perspective

Why This is The Right Time t...

BY Lodha
04-09-2020

Over the past couple of years Mumbai has undergone a sea of transformation. With several key infr

TAGS

Perspective

HDFC Bank anchors at Palava...

BY Lodha
31-04-2017

The first commercial tower of Lodha Group’s Palava, recognized as India’s No.1 Liveable City*

TAGS

Palava
Perspective

Mumbai upbeat on digital pus...

BY Lodha
30-04-2017

RERA is an Act to establish a regulatory body for regulation and promotion of the real estate sec

TAGS

Digital
Perspective

Redefining real estate, deve...

BY LODHA
01-10-2020

With meticulous planning, attention to detailing, focus on quality & great craftsmanship we h

TAGS

Perspective

HDFC Bank Welcomed at iThink...

BY Lodha
21-01-2019

Shaishav Dharia, Regional CEO, Lodha Group, welcomes Ms. Ashima Bhat , Country Head - Finance, St

TAGS

Palava
Perspective

The Rise of Hospitality in M...

BY LODHA
16-10-2020

As the world of luxury has shifted away from a high price tag and brand/product-centricity and mo

TAGS

Luxury
Perspective

Developers may alter home de...

BY Lodha
22-10-2020

With the new health and safety concerns, homebuyers are now giving more emphasis to the location

TAGS

Perspective

Lodha to create over 10,000 ...

BY Lodha Group
14-09-2019

Lodha Group, India’s largest residential estate player, today announced that it will be launchi

TAGS

Perspective

Plots and Villas: The new em...

BY Lodha
28-10-2020

With an emerging need for a low density living accompanied by the necessary social distancing mea

TAGS

Perspective

Pivot or Perish: The real es...

BY Lodha
20-11-2020

Mint’s Pivot or Perish webinar held last month focused on the impact of COVID-19

TAGS

Perspective

Open spaces emerge as crucia...

BY Lodha
17-12-2020

The right balance between nature and modern infrastructure has inspired people to live in one of

TAGS

Perspective

Lodha Pay – Book your Drea...

BY Lodha
24-04-2020

Lodha Pay is introduced to provide safe and secure, online payment option to our customers.<

TAGS

Services
Perspective

Homeownership matters: give ...

BY Lodha
12-02-2021

A child’s environment plays a major role in their development because it includes the surroundi

TAGS

Perspective

Changing housing paradigm bo...

BY LODHA
05-03-2021

A home is no longer just a substantial investment – it offers the security of a much deeper, mo

TAGS

Perspective

Women homebuyer? Here’s wh...

BY Lodha
08-03-2020

Here we take a look at the benefits of investing in real estate, the various sops available for w

TAGS

Perspective

South Central Mumbai: Hub fo...

BY LODHA
05-08-2020

One of the finest locations in the city of Mumbai - South Central Mumbai is house to some of the

TAGS

Perspective

It is time to take the leap ...

BY LODHA
22-04-2021

Owning a home is an essential priority for each individual and an aspiration that one desires to

TAGS

Perspective

COVID Impact: Private Garden...

BY LODHA
19-08-2020

With the world progressively adapting towards the post Covid-19 lifestyle, consumer needs are als

TAGS

Residential
Perspective

COVID-19 – what it means f...

BY Lodha
08-05-2020

Amidst the uncertainty that has engulfed the world, we understand you maybe in two minds about pu

TAGS

Perspective

How your home can make you h...

BY Lodha
02-02-2021

Aside from the obvious financial benefits of home ownership, there are also many social, psycholo

TAGS

Perspective

Mixed use developments to se...

BY Lodha
01-07-2020

As we start thinking of living in the post-COVID world, there are diverse perspectives on how cit

TAGS

Perspective

Own or Rent - an argument fo...

BY LODHA
16-09-2020

Since the outbreak of COVID-19 pandemic those staying on rent are left questioning their choice.

TAGS

Residential
Perspective

Lodha Group Sells Rs. 3000 c...

BY Lodha
10-09-2019

Lodha Group: India’s No. 1 Real-Estate Developer announces the sale of INR 3000 cro

TAGS

Perspective

Strengthening our Community ...

BY Lodha
09-04-2020

In these unexpected times where the country is facing simultaneous health and economic challenges

TAGS

Perspective

Make a well informed choice,...

BY Lodha
06-01-2021

If you’re in the market looking to buy a house, it’s likely that you may have been charmed by

TAGS

Perspective

5 reasons why you should buy...

BY Lodha
08-07-2020

COVID-19 has made us realise the importance of owning a home. The sense of security and comfort d

TAGS

Residential
Perspective

59% Indians looking for read...

BY LODHA
10-07-2020

A recent consumer research done by Lodha Developers with active home seekers in Mumbai region dur

TAGS

Lifestyle Residential
Perspective

Hassle-Free Home Owning Expe...

BY Lodha
06-11-2019

At Lodha Group, our passion is to create landmarks that meet global standards. Every one of our d

TAGS

Services
Perspective

COVID-19 - Impact on Real Es...

BY LODHA
05-06-2020

If you have any queries about the impact of COVID-19 on real estate in India or have question aro

TAGS

Services

Property Type

    Location

     

    Configuration(BHK)

      Budget (Approx.)

      Possession