There is new research about whether those who buy or those who rent are happier and as a leading real estate brokerage, we have an opinion on this subject and wanted to weigh in.
Buying a home is the biggest purchase an individual will make in his or her lifetime. There are definitely challenges that come with home ownership, but after working with home buyers and sellers and seeing first-hand the excitement they experience when finding that perfect home, we feel confident that home buyers are happier than those who rent.
One thing that could contribute to homeowners being happier is that they have more money. Owning a home or property offers something likened to a savings strategy. This becomes sort of a cycle, in that it is easier for people with money to buy homes. So, a homeowner who has bought a home in the past will be more likely to sell his current home and buy again.
Another factor to consider when deciding whether to rent or buy is that the median net worth of a homeowner in 2012 was 34.2 times that of a renter (according to the latest data from the National Association of Realtors).
There is also research that shows homeowners are healthier than those who rent. Data from the National Study of Family Health showed that homeowners in a data controlled group for age and socioeconomic status gave themselves better self-assessments in the area of physical health.
In the area of mental and spiritual health, homeowners fared better as well. Buying a home is a huge self-esteem booster, with 85% of new homeowners noting an improvement in self-esteem after the purchase.
A different study found children of homeowners to perform better in school and be more likely to graduate than those of families renting.
These are just a few of the things to consider when deciding to make the switch from renting to home ownership in San Diego. It helps to work with a trusted real estate professional who knows the market and area.
Take a look at some San Diego Real estate:
Carlsbad Homes For Sale
Lacosta Homes For Sale
Encinitas Homes For Sale
Cardiff Homes For Sale
Solana Beach Homes For Sale
Rancho Santa Fe Homes For Sale
La Jolla Homes For Sale
If you’d like to begin your search for a home or property in San Diego, check out our Free SD Home Search Tool. As always, a member of our team here at Big Block Realty would be happy to speak to you!
Your friends and local real estate experts,
Sandro, Oliver, Sam
The Home Team
Contact us today:
Oliver Graf – Direct: (760)237-8006
Sandro Natale – Direct: (949)290-2599
Sam Khorramian – Direct: (858)518-1533
Have a question? Call (800) 550-3209 or click –> —>Contact or Email us direct <—
Big Block Realty
Always working hard for you!
CA DRE #01885775
“Image courtesy of ambro / FreeDigitalPhotos.net”