Categories: Habitat Happenings, Habitat Tucson

Teaching the next generation of homebuyers

Spring brings a lot of wonderful things – flowers, the Easter bunny, official baseball season, and of course spring break.

It also happens to be both Global Service Month and Financial Literacy Month, two things very important to what we do at Habitat for Humanity to make homeownership a reality for thousands of Southern Arizona families, not just in Spring but year round.

And we don’t do this alone. We do this with partners in the public and private sector who share our vision to bring people together to build homes, communities, and hope. Together, We Build.

Indeed, while the foundation of a home is literally lumber, hammers and nails, the keys to successful homeownership lay in financial education.

Potential homeowners wishing to be part of the Habitat for Humanity program here in Tucson complete an extensive program that prepares them for successful homeownership.

So, in addition to helping to physically build their own home through a concept known as “sweat equity” alongside volunteers and community partners, Habitat Tucson homeowners also attend nine months of homeowner education classes, which have generously been sponsored by Bank of America.

With a purpose to help make financial lives better, Bank of America not only helps fund these classes, but local bankers use their expertise to also teach some of the courses firsthand with the homeowners, using financial education resources like to learn such things as how to budget and financially plan for their future.

It’s been an effective partnership so far, as Bank of America shares our belief that financial education and access to expertise can open doors for economic stability, independence and upward mobility. The bank also places high value on giving back and volunteerism, so has dedicated hundreds of hours helping build Habitat for Humanity Tucson over the years.

Why is it important to invest in homebuyer education?

  • Families who are equipped with the tools for successful homeownership have an opportunity to save resources and funds that they can invest in healthy food and consistent health care. They are able to save for their children’s education, building futures that are bright for the next generation of homebuyers.
  • Some Habitat Tucson homebuyers have even been able to return to school themselves – earning degrees that allow them to obtain higher paying jobs.
  • When families become the owners of Habitat Tucson homes, they become active members of our economy and contribute to our shared community. They exhibit better money habits and have more opportunities for individual and familial success.

It’s clear that connecting people to the resources they need to be successful homeowners is essential to the health, educational and economic advancement and overall financial stability for Tucson families.

Thank you Bank of America for sponsoring homeowner education!

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