Buying a home is a massive decision and includes multiple, long-term financial and lifestyle obligations. The average person spends around 1/3 of their income on their home. You’ll still need to do the work to make sure your personal finances and holistic life picture are also in alignment before you buy, as well of the work it takes to ensure that your real estate and mortgage decisions are sustainable and smart, over the long-term. A good Buyer’s Agent is invaluable to a Buyer, and can be the difference between a wonderful transaction, and a nightmare. Consumers and specially people that are trying to buy, rent, or refinance their homes; save their homes from foreclosure; or sell their properties might hear some different stories and feel differently about the news and how they might be affected by it. Here is an interesting article worth a few minutes of your time:
Voters place high value on homeownership
By an overwhelming margin, American voters strongly value homeownership and would oppose efforts to weaken or eliminate the mortgage interest deduction or diminish a federal role to help qualified home buyers obtain affordable 30-year mortgages, according to a national survey conducted on behalf of the National Association of Home Builders. The survey gauged voters’ attitudes towards homeownership and housing policy issues.
The poll shows that three out of four voters – both owners and renters -- believe it is appropriate and reasonable for the federal government to provide tax incentives to promote homeownership. This sentiment cuts across regional and party lines.
Highlights of the survey include:
- Two-thirds of respondents say that the federal government should help home buyers to afford a long-term or 30-year, fixed-rate mortgage.
- Nearly 75 percent of voters oppose eliminating the mortgage interest deduction.
- Sixty-eight percent would be less likely to vote for a congressional candidate who proposed to abolish the deduction.
- Ninety-six percent of homeowners are happy with their decision to own, and 84 percent who are “underwater” expressed the same sentiment.
- Job uncertainty and saving for a downpayment and closing costs are the biggest barriers to buying a home.