It may come as a surprise then that those who were satisfied with owning a home, only 24% said it was because the value of their home went up. The majority had many other reasons they were happy with owning a home like: it proves the American Dream is still alive, pride of ownership,and the freedom to control their home environment.
On the bright side, most – three out of four – are very happy with home ownership even in spite of such rocky real estate times where declines in home values have devastated some homeowners.
Maybe you wonder if these results effect your area? The survey shows that the highest percentage of satisfied homeowners came from the Northeast where there is a 77% satisfaction rate according to real estate data provider HomeGain. Pulling in close behind is the Southeast with 73% with the West and Midwest following at 71% and 68%.
Unfortunately, it looks as though those who purchased their homes within a time frame of the past three to eight years were the least satisfied. If they bought more than eight years ago, they tended to be more satisfied. No doubt this is a direct reflection of the real estate bubble popping.
Does price matter?
Turns out the high-end market buyers were the least satisfied with owning a home, especially if they paid over $800k. The luxury homes buyers dissatisfaction rate was up around 59%. Of course, a lot of homes have been sold through foreclosure and short sale; those purchasing a foreclosed or short sale had the highest satisfaction ratings; 79 percent and 83 percent, respectively.
What has been the biggest factor in being satisfied with a home purchase? For many it’s just the fact of owning it. Many have rented homes off and on and are fed up with the hassles of landlords; regardless of market conditions there’s nothing quite like the pride of ownership that comes with a home.
Recently the economy has begun to show it’s first signs of a definite turn around; as such home prices have begun to go up. That considered there really is no better time to buy a home in Idaho than right now! Idaho Properties can help you find the homes in Idaho that you want easily – visit our main website to begin searching for homes.