Understanding why people buy their homes

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The most popular reasons for buying homes include a number of emotional and financial factors but still revolve around the American Dream of owning your own home, according to the blog Keeping Current Matters.com.

In the blog post, “The top reasons why Americans buy homes,” the most popular emotional factor “want a place to call their own,” was cited by 52 percent of respondents in the “Homebuyer Insights Report” by Bank of America, while the the most popular financial factor garnered only 37 percent.

The top emotional factors were:

  • want a place to call their own (52 percent);
  • always something they wanted to do (43);
  • want to put down roots (31); and
  • a place to make memories (28).

 

The top financial factors were:

  • better than paying rent (37);
  • saved enough money (26);
  • have a steady job (21); and
  • a good time to buy a home (15).

 

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