Habitat for Humanity of South Hampton Roads’ mission is to build affordable homes that strengthen families and communities in South Hampton Roads.
Habitat for Humanity has proven that the Cycle of Generational Poverty can be broken through the Habitat model of a “Hand-up; not a Hand-out.”
Three milestones can be measured that depict how Habitat families purchasing affordable housing break the Cycle of Poverty:
First Milestone (Short Term) AVERAGE MONTHLY HOUSING SAVINGS OF $400 (new mortgage verses old rent) PROVIDES IMMEDIATE BUDGET RELIEF
This increase in the family’s disposable income is life-changing as it enables them to purchase better quality food, pay for dental and medical care, secure more reliable transportation, obtain safe child care services and pursue educational opportunities.
Second Milestone (Medium Term) FAMILIES IMMEDIATELY START TO BUILD AND ACCRUE HOME EQUITY
Owning a home is the #1 way most American families build wealth. This includes low-income families who, in most instances, have no wealth building opportunities
Third Milestone (Long Term and Sustaining) CHILDREN GROWING UP IN HOMES ARE 25% MORE LIKELY TO GRADUATE HIGH SCHOOL, 50% MORE LIKELY TO GRADUATE COLLEGE AND 60% MORE LIKELY TO BE HOMEOWNERS THEMSELVES
These are sustainable factors in Breaking the Cycle of Poverty as they are passed from generation to generation.