A new survey conducted by Bank of America has found the vast majority of homeowners are highly satisfied with owning their residences and would never go back to renting.
According to the new Bank of America’s Homebuyer Insights Report
that polled 1,919 adults, 93 percent of respondents said they were happier because they bought a home, with 88 percent stating it was the best decision they have ever made and 79 percent claiming that owning a home has changed them for the better. Two-thirds of respondents who are homeowners said their relationships with family and loved ones have changed for the better since purchasing a home, and 78 percent are satisfied with the quality of their social life–a higher share than the 58 percent of prospective homebuyers who were quizzed on the quality of their social life. As for giving up homeownership, 83 percent of respondents that own a residential property said they would never go back to renting.
“We know how much homeownership means, and we see examples every day of how owning a home gives our clients the power to build personal wealth and make memories,” said D. Steve Boland, head of Consumer Lending at Bank of America. “They’ve told us very clearly that homeownership is invaluable, and that’s why we’re actively providing assistance with down payment and closing costs to help people buy homes and create a new lifestyle.”