More and more renters aspire to become homeowners, according to a recent survey. According to survey results, nearly 60 percent of current renters plan to purchase a home in the next two years.
The survey also revealed key motivations behind the respondents’ plans for homeownership. Forty-nine percent simply want the chance to call themselves homeowners, 44 percent view owning a home as a good financial investment, and 36 percent need more space for their family and/or children.
The survey also revealed that twice as many homeowners today, compared to two years ago, expect to have adult or aging parents living with them in the future, which could lead to a demographic shift toward multigenerational homes.
Making dreams come true. Talk to a Realtor® about these findings. Are they working with more renter clients who have saved up and are now ready buy? What is motivating their buyer clients to get into the market? Talk to buyers about what homeownership means to them. Why is now the right time for them to pursue their dreams of owning a home?