The Top Reasons Why Americans Buy Homes

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.”

The Top Reasons Why Americans Buy Homes| Simplifying The Market

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.
The Top Reasons Why Americans Buy Homes| Simplifying The Market

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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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.