People
normally have two choices when it comes to where they live and ultimately call
home sweet home. There are numerus factors that can affect a person’s decision
to rent or buy a home. The most influential factor is usually financial. So, is
homeownership still a cornerstone of the American Dream?
According to
the Survey of Consumer Expectation (SCE), one of the many questions asked in
the housing section of the survey was: Assuming you had the financial resources
to do so, would you like to own instead of rent your primary residence?
Surprisingly,
76.7% of those under the age of 50 said they would prefer to own their home,
rather than rent. 52% of those over 50 would prefer to own. See the chart
below:
This just
shows how homeownership is part of the American Dream for the majority of the
Millennials. In many ways, owning a home has become the norm for Americans. That
dream is still alive!
At the end,
perhaps the most important person to ask is yourself. Why miss out on the
opportunity of looking for your dream home?
Once it’s
time to look for a dream home give us a call or send us an email! We look
forward to hearing from you!
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