Why Are People Buying Homes?

These days, whenever folks in central New Jersey discuss real estate, it's all about the financial aspects of home buying. Keeping Current Matters this week hit on the questions that are on everyone's mind: “Where are prices headed? Where are interest rates headed? Should I wait to try and get a ‘better buy’? Should I wait until I can get a ‘steal’?” It all comes down to the same thing – is now really the time to buy?

We've discussed before, and point again here to the fact that surveys keep pointing to the fact that price is NOT the reason people buy homes. Yes, putting money into a mortgage, rather than paying rent on an apartment, is a consideration. But take a look at the results of the National Housing Survey, which show that there are lots of other reasons for families to buy homes:

The top five reasons given in the survey for buying a home, in order, are:

• It means having a good place to raise children and provide them with a good education

• You have a physical structure where you and your family feel safe

• It allows you to have more space for your family

• It gives you control of what you do with your living space (renovations and updates)

• Paying rent is not a good investment

Yes, at the moment, conversations about buying a home tend to turn to dollars and cents. But at the bottom line, we actually buy for the same reasons our parents and grandparents did – we want a better lifestyle for ourselves and our families.

We'd love to hear your about why you bought – or are considering buying – a home here in central New Jersey. Leave your comments below!

We're The Marchany Team, and we KNOW central New Jersey. We're right where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're looking for a terrific new home in Mercer County, we'll find your place in the sun in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to put your Franklin Park or Hillsborough (Somerset County) home on the market, we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.