The National Association of Realtors (NAR) has just released its annual survey of home buyers and sellers. One thing that is consistent in this report is that although the financial aspects of homeownership are important, they do not stand alone as the primary motivators for the purchase of a home. The desire to be a homeowner and lifestyle considerations are the dominant reasons for making the purchase.
The purchase of a home also entails many non-financial benefits. For the typical homeowner who purchases a property as their primary residence, they are also buying into a community.
There is considerable research to suggest that homeownership strengthens the community; homeowners have a stake in their neighborhood and are likely to invest through their participation in civic activities. It is now well documented that homeowners and their families benefit in a number of ways ranging from more positive feeling about the future to better health.
Below you will find a summary of the 2010 report prepared as a slide-show by NAR. You can also download the complete report as a PDF immediately below.