Homeownership Makes People Happier - Oro Valley Real Estate
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Most Americans have no regrets about buying a home. In fact, it’s made them happier, a new survey shows.
Ninety-three percent of Americans say they are happier after buying a home, and 83% would never go back to renting, according to Bank of America’s latest Homebuyer Insights Report, based on a survey of nearly 2,000 consumers. Most owners say they have an emotional attachment to their home, and ownership also has improved their lifestyle and variety of hobbies.
Eighty-eight percent of survey respondents say that buying a home is the best decision they’ve ever made. Seventy-nine percent say that owning a home has changed them for the better. Three out of four homeowners surveyed say they pursued new hobbies after buying a home, including:
Landscaping/gardening: 47%
Cooking/baking/grilling: 45%
Interior design/remodeling: 33%
Further, two-thirds of respondents say their relationships with family and loved ones has changed for the better since purchasing a home. They credited homeownership as improving their relationships in the following ways:
Given families a sense of pride: 47%
Allowed homeowners to entertain more: 49%
Enabled homeowners to bring the entire family under one roof: 24%