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|Subject: Re: Home Ownership not a good investment||Date: 4/30/2014 5:13 PM|
|Author: tjscott0||Number: 74906 of 82786|
Thought this article might be of interest on this topic.
One out of four homeowners admit they wouldn’t buy their home again if they had the chance, according to a recent survey by real estate brokerage Redfin.
The biggest factor contributing to homebuyers’ remorse appeared to be affordability. Nearly one-third of homeowners who reported a household income of less than $100,000 said they were unhappy with their decision. In contrast, just 14% of homeowners who earned more than $100,000 said they were unhappy, according to the survey.
Younger homeowners were also more likely to have regrets. About 28% of homeowners under 65 said they regretted buying their home, compared to 14% of senior homeowners. And one in five homeowners with kids still living at home said they regretted their home purchase as well.
I imagine those with lower incomes didn't figure in maintenance costs on their homes. The major benefit of renting is that there isn't any concern/cost of maintenance. If the landlord doesn't maintain the property; one can always move.
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