There was a survey done this past month from Ipsis that asked people what does home ownership actually mean to them. And people could pick from different answers or multiple answers. But here’s something interesting. Fifty five percent said it’s an achievement to be proud of, that home ownership is something to be proud of. Forty two percent said it’s a good way to acquire equity. And 32% said it’s a way to, home ownership is a dream come true.
According to a Federal Reserve study done in the last thirty days, 81% of the renters indicate that they would prefer to own their home if they could do so. More than eight out of ten would much rather own than they would rent. And the Federal Reserve report broke down both the non‐financial and the financial reasons people felt that way.
Non‐financial reasons... They simply prefer to own. You know, they want to be the kind of their own castle or queen. There are fewer rules. There’s no landlord telling them what they can, what colors they can paint the room and whether they can put a play set out in the back yard. And 23% say they just don’t like to move. When you own your home you have stability there. When you’re renting, you’re not sure at the end of that lease what’s going to happen.
Now for the financial reasons, the top three are they allow you to build equity. It’s cheaper than renting and people begin to realize that more and more now. And 20% even said it provides certainty of monthly payments. They know what their expenses are going to be. And that’s important because they can budget and they can budget savings too.
As you can see, to most renters home ownership is the American dream. If you dream of owning a home we would love to have a chat with you to see what your goals are and how we can help you achieve them. Give us a call at 913-732-1247. We are licensed in KS & MO