One of the first steps in a Home Stretch workshop is to explain to potential home buyers the advantages and disadvantages of homeownership. The workshop actually starts by having people think through some of the reasons WHY they'd like to be homeowners.
Fannie Mae's 2010 National Housing Survey asked that same question of thousands of people across the country... "What led you to purchase your first home?" (Translation: Why'd you become a homeowner?). The results are shown here:
Family changes (getting married, more kids) are, apparently, the top reasons people choose to become homeowners.
PARTICIPATE IN OUR NEW SURVEY: Knowing the possible disadvantages of homeownership (depreciation, expense, yard work, maintenance)... We'd like to know what led YOU, or, if you haven't purchased a home yet, what MIGHT LEAD you to purchase your first home. You can answer our survey question (Just 1) here.
As a follow-up to the question we asked earlier in the week... "Why did you choose your first home (what characteristic about the home lead you to choose THAT specific property)... Our completely non-scientific online survey shows that Minnesotan's reasons for choosing their homes differ slightly from the national survey:
Are you currently considering purchasing your first home? There are LOTS of factors to consider - there are both advantages and disadvantages to homeownership! Make sure you're fully informed about how to be a SUCCESSFUL homeowner by speaking with a Housing Counselor or by taking a Home Stretch workshop first. For more information on buying your first home in Minnesota, click here.