By Jolene Barrington, Buyer’s Broker
It is no wonder why today’s home buyers are more reluctant than ever to purchase a home. With the “collapse” of the real estate bubble and the current “state of the economy” there is plenty to be concerned by. However, a recent survey published by the real estate giant, Trulia, shows that 70% of Americans still consider home ownership an integral part of the “American Dream”.* Owning your own home still represents a certain pride that cannot be duplicated by renting or leasing. Regardless of the depressed market, our society still maintains the important affects owning a home has in a family environment. Home ownership provides a safe haven to raise families. For most, home ownership equals stability; something that is becoming more and more difficult to obtain.
Yes, home ownership is still viewed as most to be an invaluable part of the American Dream, but the American Dream is evolving as the economy changes. Home buyers are becoming more practical. Gone are the desires for expansive floor plans, a plethora of square footage and acres and acres of land. Today’s home buyers are more aware of their use of space, efficient designs, smaller footprints on the environment and close commute to town, work and schools.
With interest rates plummeting to history lows and good “deals” on nearly every residential block, it is still a good time to be a part of the American Dream.
Photo Credit: Aroid.