From Sad Renters to Happy Homeowners: The Latest Stats in the Real Estate Market
When you own, you’re happy.
At least, that’s what the latest news released from Bank of America points to.
The company released a new report that shows 93% of people who bought a home are happier than they were when they were renting.
88% of responders also said that they believe buying a home was the best decision they ever made, while 79% said owning a home has changed them for the better.
What are the top reasons new homeowners are so incredibly joyous?
Most agreed that the “emotional equity” trumps the financial benefits towards the “American Dream” of homeownership. More than half of current homeowners bought a home for a place to make memories, while 42% viewed it as a financial investment.
Not only does owning a home affect being able to grow a family, make memories, and help with your investments, but it also does wonders for your overall view of life.
78% are satisfied with the quality of their social life (hello dinner parties, birthday parties and barbeques), while three out of four homeowners have pursued new hobbies after buying a home.
Looks like a home is more than a financial investment after all!
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