Welcome to the ViewAndSearch.com Blog

2019-09-26 08:50:10
Homeowners Are Happy! Renters? Not So Much.

Homeowners Are Happy! Renters? Not So Much. | MyKCM


When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable.

In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while only 7% said no. The survey also revealed:

  • More than 80% said they wouldn’t go back to renting
  • 88% agreed that buying a home is the “best decision they have ever made
  • 79% believed owning a home has changed them for the better

Those surveyed talked about the “emotional equity” that is built through homeownership. The study says more than half of current homeowners define a home as a place to make memories, compared to 42% who view a home as a financial investment. Besides building wealth, the survey also showed that homeownership enhances quality of life:

  • 67% of current homeowners believed their relationships with family and loved ones have changed for the better since they bought a home
  • 78% are satisfied with the quality of their social life
  • 82% of homeowners said they were satisfied with the amount of time they spend on their hobbies and passions since purchasing a home
  • 75% of homeowners pursued new hobbies after buying a home

Homeowners seem to be very happy.

Renters Tell a Different Story…

According to the latest Zillow Housing Aspirations Report45% of renters regret renting rather than buying — more than five times the share of homeowners (8%) who regret buying instead of renting. Here are the four major reasons people regret renting, according to the report:

  • 52% regret not being able to build equity
  • 52% regret not being able to customize or improve their rentals
  • 50% regret that the rent is so high
  • 49% regret that they lack private outdoor space

These two studies prove that renting is just not the same as owning.

Bottom Line

There are both financial and non-financial benefits to homeownership. As good as the “financial equity” is, it doesn’t compare to the “emotional equity” gained through owning your own home.

 
Blog Archive
2020-02-18 20:43:49
The #1 Reason to List Your House Right Now!

2020-02-18 20:14:37
How the Housing Market Benefits with Uncertainty in the World

2020-02-18 19:54:37
How Trusted Professionals Make Homebuying Easier to Understand

2020-02-11 13:23:17
Homeownership Rate on the Rise to a 6-Year High

2020-02-11 13:22:02
How Pricing Your Home Right Makes a Big Difference

2020-02-11 13:20:30
Great News for Renters Who Want to Buy a Home

2020-02-04 21:16:57
Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey

2020-01-28 15:15:02
Should I Sell My House This Year?

2020-01-13 07:12:45
The New Spring Real Estate Market is Here. Are You Ready

2020-01-13 07:10:27
Buying a Home Early Can Significantly Increase Future Wealth

2020-01-06 06:52:50
3 Benefits to Buying Your Dream Home This Year

2020-01-03 11:47:47
Top Renovations for Maximum ROI

2020-01-02 11:31:42
The 2020 Real Estate Projections That May Surprise You

2019-12-31 23:16:56
Expert Insights on the 2020 Housing Market

2019-12-23 07:56:49
2020 Forecast Shows Continued Home Price Appreciation

2019-12-19 21:15:48
5,300 Reasons to Be Happy You’re a Homeowner

2019-12-18 13:16:20
The Biggest Issue Facing Housing Next Year

2019-12-13 07:42:47
Get Your House Ready To Sell This Winter

2019-12-12 07:54:39
Holiday Gifts Are Not the Only Hot Things Right Now

2019-12-11 05:40:29
Have You Outgrown Your Home?

2019-12-10 07:40:11
A 365 Day Difference in Homeownership

2019-12-07 10:47:55
Millennials Are on the Move as First-Time Homebuyers

2019-12-02 15:55:14
5 Reasons to Sell This Winter

2019-11-27 06:35:29
Tips to Sell Your Home Faster

2019-11-25 21:03:21
7 Reasons to List Your House This Holiday Season

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.