The majority of homeowners and renters view home ownership as a good investment, according to the results of a recent survey by Digital Risk. Conducted between May 26 and June 2 of this year, the survey also identified barriers that remain within the housing market.
How Many Americans Think Homeownership is a Good Investment?
The survey, which polled 1,057 U.S. homeowners and 509 renters, found that 91 percent of homeowners and 83 percent of renters believe home ownership is a good way to invest their money. Confidence in the housing sector is apparently high, being driven by a noticeable increase in home values. Eighty-seven percent of homeowners have seen their appraisal values holding or increasing, while just 12% saw a decrease. Sixteen percent saw gains of more than 20 percent in their home’s value.
For those who see the value in homeownership, but are yet unable to make a purchase, reasons cited include inability to afford a down payment and insufficient income. Thirty-seven percent cited insufficient income as the main reason they haven’t bought a home. Thirty-three percent said they preferred renting over owning.
Attitudes on Using the Internet During the Application Process
While home buyers are upbeat about the housing market, 70 percent of homeowners and two-thirds of renters indicated they would not be comfortable managing the entire process via a smartphone application. And while two-thirds of homeowners and 59 percent of renters said they would be willing to complete an application online, about half of all respondents said they would prefer for speak with a representative in person during the process.
Buying a Home in Texas
If you happen to be considering a home purchase in the state of Texas, please don’t hesitate to contact us for information on our low money down FHA, $0 down USDA, $0 down VA, conventional and jumbo financing options. We’re here to answer your home financing questions and help you find a home loan that works for your needs and budget. Give us a call at (972) 591-3097 or fill out the form on this page to connect with our team of Texas mortgage professionals.