An overwhelming number of homeowners are happy with their decision to purchase their home, despite a challenging housing market. According to a survey conducted by Bankrate.com, 90 percent of respondents said they had no regrets about buying their current home.
In addition, the survey revealed one positive outcome related to the current housing market – homeowners are far more knowledgeable about mortgages. Only 8 percent of homeowners didn’t know whether they have a fixed-rate or adjustable-rate loan, compared to 26 percent two years ago.
Among the small percentage who did express regret in their home purchase, one-third said they are disappointed they are unable to sell and move on and one-fifth said they couldn’t afford the mortgage payments.
The survey underscores the value homeowners place on their houses, both financially and socially.
Talk to homeowners in the Smith Mountain Lake area about what they enjoy most about owning. Ask a Prudential Waterfront Properties Realtor® about the emotional side of the transaction and how it influences the buying process.