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Are you dissatisfied with your new Boston condo? If so chances are you’re young.
That’s the takeaway from real estate search site HomeGain’s latest survey, which asked Americans whether they were happy with homeownership.
Homeowners in the 18-to-25 crowd were very dissastified. That’s the only age group where more than half (55 percent) said they’re not satisfied with homeownership. The share of satisfied homeowners goes up from there almost in lockstep with age.
Those most likely to be satisfied are 55-plus, people who are also the most likely to have lived in their homes the longest and — assuming they didn’t pull a lot of equity out during the bubble years — to owe little or nothing on a mortgage. So it makes sense, just as it’s understandable that young homeowners who have seen nothing but depreciation aren’t wild about the idea.
More results from the survey:
Eighty-four percent of people who bought in the last one to two years say they’re satisfied with homeownership. That easily beats the No. 2 group — people who bought 12 or more years ago, 79 percent of whom are satisfied.
Not at all surprising is that people who bought five to eight years ago, between 2004 and 2007, are the least likely to be satisfied as they bought at or near the height of the bubble.
The HomeGain’s link above includes comments of the homeowners surveyed about what they liked or disliked about homeownership.
Boston condo owners what are your thoughts? How about Boston renters? With rents increasing each year wouldn’t be better for you to purchase a Boston condo with the present historic low interest rates. Your thoughts?