The Truth About Homeownership in 2019
Are you dreaming of buying a home this 2019? Despite affordability challenges, California renters continue to hold ownership in high regard and aspire to purchase a home eventually as a lot of people still want to live in their own home.
Here are the advantages of homeownership according to renters:
- 21% say that homeownership provides a good and long term investment.
- 19% say that homeownership gives them the freedom to do what they want in their home.
- 12% say that homeownership allows stability to plant roots.
Here’s what’s hindering renters from becoming homeowners:
- Only 40% of renters are familiar with the credit and loan criteria needed to purchase a home.
- 14% of renters are under the impression that more than 50% down payment is needed to purchase a home.
- Nearly 40% of California renters believe that more than 20% is required to become a homeowner.
These misconceptions result in many renters delaying their home purchase or giving up on the dream of homeownership. If you are a renter, talk to your real estate professional or better yet get in touch with one of the agents Broadpoint Properties so we can help you on how you can become a homeowner.