Real Estate Facts: Buy to Own

(490 words)

A desire to own a home of their own and to establish a household are the reasons homeowners most often cite for purchasing a home, according to a recent consumer survey.

Thirty-three percent of all buyers, and a whopping 70 percent of first-time buyers, express these as prime motivators in their quest for a home purchase, according to the National Association of Realtors^®2007 Profile of Home Buyers and Sellers.

A wish for a larger home, a job-related move, a change in family situation, a desire for a home in a better area and an interest in being closer to jobs, relatives, school or transit are also high on the list of reasons for purchasing a home.

Interestingly enough, taking advantage of perfect market conditions was not mentioned – not this year, not last year – not in NAR’s 26-year history of surveying buyers and sellers.

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