4 out of 5 Renters Want to Buy

82% of non-homeowners plan to buy a home and are willing to make sacrifices in their daily living to make that goal a reality, according to a poll by Century 21 Real Estate.

Half of those polled said they would cut back on dining out, 49% said they would cut back on shopping for non-essential items and 47% said they would give up luxuries in order to be financially able to purchase a home.

A key obstacle to buying a first home, however, is the down payment and qualifying for a loan. The poll found that 45% of those responding said they did not believe they could qualify for a loan or have sufficient funds for a down payment.

And a new poll by the Trulia real estate data company suggests consumers are perhaps overly optimistic about the trend toward higher home prices over the past several months, with 58% believing values will return to boom-year highs within the next 10 years.

The company also said Americans are again looking for large homes to buy. It said 27% of those polled would like a home with more than 2,600 square feet and that 11% would like one with more than 3,000.

***Real Estate Digest, Sept 2012

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Jennifer Ferri, Owner

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