What Motivates Home Buyers?
Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed 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.”
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.”
When asked what home ownership means to them, home buyers responded:
Real Estate Bottom Line
Home ownership has always been a part of the American Dream!