The Cost of Renting vs. Buying a Home [INFOGRAPHIC]Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of
Renting Or Buying Are You Happy
Homeowners Are Happy! Renters? Not So Much.
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 Report, 45% 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.
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.
We often find in Real Estate that our renters are sick and tired of RENTING< rent has went up and up and they cant change colors, own pets, they have run out of space and the landlord is not fixing or doing what was orginally promised in the lease.. but.. our clients are stuck.. their credit, or they dont have a down payment or just do not know the steps..
I am here to tell you WE in a 5 minute quick phone call can get your credit on the right track(only need a 575 score) Or get you pre approved(in a home in 30 days)
Most of our clients are ready in under 3 months even with trouble credit.. YES some need longer and that is ok!!!
but take the time pu up the phone lets chat today and get you on the track to home ownership and turn your frown to a smiley today! call me 330-412-9799 Ann
As always call Ann 330-412-9799
I am dedicated to you! I will give you a 100% all of the time day or night! I will get you the house you want for the price you want! I will sell your house and get it done quickly! I think outside th....
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