A recent study by mortgage giant Fannie Mae showed that 90 percent of renters aspire to be home owners one day, and the top reason behind that desire is for the sense of gaining greater control over their living arrangements.
The survey revealed the following top reasons why renters want to own:
- “Control over what you do with your living space”: 84% of renters said this was their main desire for owning;
- “Having a sense of privacy and security”: 80%
- “Having the best investment plan”: 78%
- “Having a good place for family or to raise your children”: 78%
- “Living in a nicer home”: 71%
- “Building wealth”: 70%
- “Saving for retirement”: 69%
In the survey, renters identified the following reasons for why they are renting:
- “Living within your budget”: 57%
- “Having less stress”: 52%
- “Making the best decision given the current economic climate”: 50%
Source: “Why It’s True: You Should Own, Not Rent,” TheStreet.com
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