Why Buy?

Pride in Owning:

Most people buy homes to have control over where they live.  Although investment features are important, the psychological reasons for buying...the satisfaction of owning and freedom from paying rent...are at least as important.

In a survey done by the National Association of Realtors of 6,000 homeowners and 2,000 renters ...perhaps the largest ever of attitudes toward home ownership ...showed that 76% of owners and 66% of renters considered pride of ownership an important reason for buying.

Dislike paying rent:

Almost equal portions of owners and renters ...close to 7 in 10...said a dislike of paying rent was an important reason to buy.

Make home a reflection of you:

Also an important reason mentioned by more than 6 in 10 owners and renters was an owner's ability to control and modify a home's features.

Settling down:

More than 6 in 10 renters said "settling down" was an important reason to buy.

Good investment:

76% of owners and 69% of renters said the investment aspect of ownership was important.

Long-term appreciation:

People consider home ownership a good investment because they view it as a long-term venture. Historically, home prices have risen at a relatively steady rate.

Leverage investment:

People borrow a great deal to buy a home, yet they receive the full benefits of price appreciation.

Source of savings:

Home ownership always has and continues to comprise the single largest source of savings for American households.

Sacrifices are worth it:

Almost 7 in 10 renters in the NAR home ownership survey said they planned to buy a home in the future. More than three-quarters of these people said they are willing to sacrifice to do that.