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Does Home Ownership Make You Happier?

10/19/2019

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Money can't buy happiness, but it can buy a house, and according to the 2019 Fall Homebuyer Insights Report by Bank of America, most homeowners credit their happiness to an improved lifestyle and variety of hobbies that homeownership allows. 
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The report by Bank of American also found that most Americans would rather pay a mortgage than pay rent, believe homeownership builds financial equity, and more than half of current homeowners feel that home is a place to make memories. 

Homeownership doesn't just change the homeowners--over two-thirds of respondents said their relationships with family and friends have evolved since owning a home. Home ownership was said to help the owners entertain more, give families a sense of pride, and even bring their whole family under one roof. 

Along with impacting relationships, homeownership was found to improve the lifestyles of many people. Over 75% of respondents claimed homeownership made them a better person and reported that they developed new hobbies and interests once they bought a home. Among the new hobbies were landscaping, gardening, culinary skills, interior design, and remodeling. 

To learn more insights from the 2019 Fall Homebuyer Insights Report, check out the full article here.
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