Despite regular news reports of a depressed housing market and underwater mortgages, most homeowners in the United States are happy with their purchase. According to a recent survey conducted by HomeGain, about three out of four homeowners in the country are happy to be an owner. The Northeast, including Massachusetts, enjoys the highest level of homeowner happiness in the nation at 77 percent. Meanwhile, in the sunny Southwest, only about 73 percent of homeowners are satisfied with their purchase.
According to some homeowners, their levels of satisfaction felt have less to do with the price of their homes than with the control they have over upgrades and other housing-related matters. Additionally, pride of ownership also purportedly factors into the level of joy felt by most owners. About 66 percent of unhappy homeowners were dissatisfied largely due to the low prices associated with the country’s current real estate market.
According to the survey, money does play a factor in homeowner satisfaction. Those who spent more than $800,000 are the least satisfied homeowners in the nation. Meanwhile, individuals whose home cost less than $75,000 enjoy the highest level of ownership satisfaction. Also, those homeowners who that felt they purchased a bargain via a foreclosure or short sale appeared to be more satisfied than those who closed on their property during the height of the housing bubble.
Although the nation has witnessed a record number of bank foreclosures, it appears life continues as usual for most homeowners. The survey demonstrates most people who purchased a home within their means in a relatively stable housing market still believe real estate can be a good investment for those with patience.
Whether you have purchased a home in the past or you are thinking about buying for the first time, becoming a homeowner can be both exciting and worrisome. Every real estate transaction is unique and a lot is at stake for buyers and sellers alike. Hiring a real estate lawyer early in the process can help you avoid mistakes.
An experienced real estate attorney will negotiate with lenders on your behalf so you receive a fair interest rate and acceptable financing terms, examine the property’s title, and handle any unforeseen issues which may arise in connection with your property transaction. Having an attorney on your side to assist you with the purchase process, negotiate any changes to the purchase agreement, resolve title issues, review the HUD settlement statement, and protect your interests at closing can make your transition into homeownership more enjoyable.
If you are a prospective home buyer in Massachusetts, contact Pulgini & Norton, LLP today. Our knowledgeable and committed Boston real estate lawyers are available to protect your interests during any real estate transaction. Pulgini & Norton assists clients throughout the Commonwealth of Massachusetts including Norfolk, Suffolk, Bristol, Middlesex, and Worcester counties. Call Pulgini & Norton at (888) 344-2046 or contact us through our website.
Homeowners: The happy majority speaks, by Scott Van Voorhis, Boston Globe
Yes, buying a house can still be a smart investment, by Scott Van Voorhis, Boston Globe
HomeGain’s 2012 National Home Ownership Satisfaction Survey Results, by Louis Cammarosano,HomeGain.com