Would you rather Own or Rent your home in Northern Utah?
Fannie May recently conducted a National Housing Survey asking if there is an advantage to owning your own home, instead of renting. Every quarter this survey is released, it seems our belief in the value of homeowner ship rises.
Fannie Mae asks the American public a number of questions concerning the housing market today – like a snapshot of the housing market right now.
Here are some of the items that seem the most interesting this time around:
Owning a home seems to make more sense than renting to 84% of the general population.
Here are some of the most substantial reasons for owning a home:
When most buyers think about buying a home, the first things discussed are the financial aspects of homeownership. This quarter’s survey outlined the main 4 reasons most buyers purchased a home had absolutely nothing to do with the financial part of it.
- Having a great place to raise your family and to provide a great education as well.
- Feeling safe in a physical structure.
- Having more space for your family.
- The ability to take control of living space and the ability to make updates or renovations.
Buying as a home as an investment
However, most people realize that money is involved when becoming a homeowner. When purchasing a home most people rationalize their decision based financial reasons such as:
- Believing that homeownership is a ‘safe’ investment is what 63% of the population has said.
- Using the home, as a potential investment is what 53% of the general population believes in.
SO, should you buy or rent?
Even though people are always going to see differently when it comes to buying or renting, home ownership at some point seems to be a goal for most renters.
- 64% of renters would like to own their own home.
- 70% of renters believe that owning your home is better than renting.
If you would like figures to help you decide if you should buy or rent, contact us today. Our team of local experts is ready to guide you through the home-buying process. We are committed to fast, professional and courteous service to help you understand and feel at ease throughout the home buying process. Our trained and licensed agents specialize in the Northern Utah area real estate market and are prepared to find the right home and get the best price.
Here’s why your real estate buying experience is better when you work with the Spring Bengzten Realty Group …