If you need assistance, please call 1-714-497-0160

Homeowners Are Happy! Renters? Not So Much.

Thursday, September 26, 2019   /   by Shaun Radcliffe

Homeowners Are Happy! Renters? Not So Much.

Homeowners Are Happy! Renters? Not So Much. | MyKCM


When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable.

In a recent surveyBank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while only 7% said no. The survey also revealed:

    • More than 80% said they wouldn’t go back to renting
    • 88% agreed that buying a home is the “best decision they have ever made
    • 79% believed owning a home has changed them for the better

Those surveyed talked about the “emotional equity” that is built through homeownership. The study says more than half of current homeowners define a home as a place to make memories, compared to 42% who view a home as a financial investment. Besides building wealth, the survey also showed that homeownership enhances quality of life:

    • 67% of current homeowners believed their relationships with family and loved ones have changed for the better since they bought a home
    • 78% are satisfied with the quality of their social life
    • 82% of homeowners said they were satisfied with the amount of time they spend on their hobbies and passions since purchasing a home
    • 75% of homeowners pursued new hobbies after buying a home

Homeowners seem to be very happy.

Renters Tell a Different Story…


According to the latest Zillow Housing Aspirations Report45% of renters regret renting rather than buying — more than five times the share of homeowners (8%) who regret buying instead of renting. Here are the four major reasons people regret renting, according to the report:

    • 52% regret not being able to build equity
    • 52% regret not being able to customize or improve their rentals
    • 50% regret that the rent is so high
    • 49% regret that they lack private outdoor space

These two studies prove that renting is just not the same as owning.

Bottom Line


There are both financial and non-financial benefits to homeownership. As good as the “financial equity” is, it doesn’t compare to the “emotional equity” gained through owning your own home.

Coldwell Banker Residential Brokerage - Radcliffe & Associates
Shaun Radcliffe
21580 Yorba Linda Blvd
Yorba Linda, CA 92887
1-714-497-0160
DRE# 01923712




loanDepot
Glenn Hemry
2855 Michelle Dr., Suite 190
Irvine, California 92606
949-346-3431
NMLS#451075


Based on information from California Regional Multiple Listing Service, Inc. as of August 11, 2020. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
This site powered by CINC: www.cincpro.com