In many of our recent blogs, we have discussed finance being a key factor in buying a home and it still is. However, finance more so dictates which home and where you buy, not the reason that you want to buy. Home ownership has never strayed far from being part of the American dream, but in recent economic times, purchasing a home may have been put on hold for some people. 72% of renters still say that owning a home is a top priority.
According to two recent surveys; The National Housing Survey & The Myers Research & Strategic Services survey, each came back with the top five reasons why people purchase homes, here is the consensus:
It means having a good place to raise children and provide them with a good education
You have a physical structure where you and your family feel safe
It allows you to have more space for your family
It gives you control of what you do with your living space (renovations and updates)
Paying rent is not a good investment
Owning a home makes people feel stable & secure. Although people may not have the economic means to buy when they would like to, the desire to own a home is still evident.