Waterfront homes are a popular purchase in Florida where the population grows by around 1,00…
Wilton Manors Realtor | Fort Lauderdale Real Estate News
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A recent survey conducted by Fannie Mae discovered that 85% of Americans would prefer home ownership over renting but are forced to rent based on their financial situations.
From the participants of this survey that currently had mortgages, 40% stated that the difficulty of obtaining a mortgage, costs, homeownership advantages and financial factors play a part in the decision of renting or purchasing a home in the future. 39% of those surveyed stated that beliefs about housing is the primary deciding factor and 21% stated that the location of the property is the most important aspect to consider when choosing between renting or buying.
Based on results from participants who rent, 42% stated that making the decision of renting or buying is based on their beliefs about housing, market conditions and affability. 33% stated that their decision would be made based on location and the remaining 25% of participants who rented stated that financial conditions would be the primary factor.
This survey from Fannie Mae also considered the aspects that would influence homeowners who didn’t have mortgages. From these participants, 65% noted that jobs, finances, age and other factors as some of the crucial elements that would make them relocated. 17% from this category stated that beliefs toward housing and 19% stated that financial conditions were the deciding factors for relocation.
A representative from Fannie Mae notes that the decision of homeownership is no longer based upon income but now seems to be based on housing attitudes. This representative also believes that comprehending that these attitudes are the primary factors would assist potential home buyers to make better decisions.
Assisting potential home buyers comprehend how their mental states play crucial roles in this process can help them find the perfect medium between their financial allowances and preferences rather than honing in on owning the perfect home.
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