Homeowners Have Higher Levels of Life Satisfaction

Want to experience higher levels of happiness and satisfaction in your life? The answer could lie in real estate.

According to the 2019 Fall Homebuyer Insights Report from Bank of America, the vast majority of homeowners—a whopping 93 percent—are happier owning their home than they were when renting.

And the benefits of owning a home don’t end there. Homeowners also report higher levels of life satisfaction in all areas, including how much time they spend pursuing hobbies (82 percent of current homeowners vs. 63 percent of prospective buyers), the quality of their social life (78 percent of current homeowners vs. 58 percent of prospective buyers), their financial well-being (77 percent of current homeowners vs. 42 percent of prospective buyers), and their life overall (88 percent of current homeowners vs. 70 percent of prospective buyers).

The Takeaway:

So, what does that mean for you? Happiness, fulfillment, and life satisfaction aren’t things you can purchase. But you can purchase a home—and, in many ways, that’s the next best thing.