In today’s real estate post we are going to discuss some major factors contributing to why Americans buy homes. Here in Glenwood Springs, Colorado just like in many other real estate markets across the country, Americans want homes usually for one of the following reasons:
SECURITY: People want to feel secure and want their family to also feel secure. When renting a property or leasing a property, you usually do not get the same security as owning your own home.
FAMILY: How many houses have you walked into and the picture frame or first piece of art on the wall says “Family”? Folks enjoy homeownership because it provides their family a place to call home and grow together.
RESPONSIBILITY: Whether it be fiscal responsibility, investment responsibility. or just personal responsibility we know owning a property comes with responsibility and lots of it. Naturally people want to take on responsibility as they grow and that is one main reason owning a home is so appealing and also a contributing factor to real estate investment strategy.
HAPPINESS: Are you happier paying a mortgage that belongs to someone else or one that belongs to you? Exactly. Lots of factors contribute to happiness but real estate sure does put a smile on people’s faces more often than not. Personally speaking, I know my decision to get involved in real estate here in Western Colorado has brought me loads of happiness.
The bottom line is that homeownership has always been part of the American Dream and that dream has not changed over time and likely will not change over time with the given trends of the real estate industry, specifically here in Colorado.
Here are some other quotes from an industry leader that speak to this topic.
“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.” – Steve Boland
“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.” – Steve Boland
Quotes taken from http://www.keepingcurrentmatters.com/2016/04/13/the-top-reasons-why-americans-buy-homes/