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The Louisville Real Estate Blog

Louisville Kentucky Real Estate Blog

The Top Reasons Why Americans Buy Homes

The Top Reasons Why Americans Buy Homes| Keeping Current Matters

Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding homeownership.

Consumer Lending Executive, D. Steve Boland, explained:

“Homebuyers today are motivated by both emotional and practical reasons. Nearly all want more space, but a majority of homebuyers, especially those purchasing their first home, are also looking for a place to call their own, put down roots and make memories. They value the emotional benefits of owning a home as much as the financial ones.”

Boland went on to say:

“The path to homeownership is a journey and can be as overwhelming as it is exciting. For many people, this is the single most significant financial transaction they will ever make.”

This was evidenced in the report when they asked today’s homebuyers to define homeownership. Their answers tell the whole story.

Bottom Line

Homeownership has always been a part of the American Dream and survey after survey confirms this will always be the case.

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Home Ownership is a Great Investment!

Don't Be Fooled... Homeownership Is A Great Investment! [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Harvard University's Joint Center of Housing Studies recently released the top financial & emotional reasons to own a home.
  • Owning is a good way to build up wealth that can be passed along to your family as it is usually a form of "forced savings."
  • Whether you rent or own, you are paying a mortgage. Yours when you own, your landlord's when you rent.
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