Publication Date:
Tue, 2011-01-18 11:02
Article Image:
A survey of homeowners who purchased a home last year found that their primary motivations were affordability and the desire for more living space, the Wall Street Journal [1]reported.
The survey, by Weichert Realtors Inc., polled 1,261 buyers who bought a home between July 1 and Dec. 31. Twenty-eight percent said their main reason for purchasing a home was “favorable financing,” double the amount in 2008. Another 28 percent said they bought a home because they wanted a more living space, which stayed consistent with previous years’ surveys.
Few respondents said they bought a home because they wanted to own rather than rent, a major change from 2005, when 26 percent said desire to stop paying rent was their primary motivation.
Twelve percent of respondents said they bought a home due to relocation, while 11 percent said they were motivated by potential financial growth.
