Despite the uncertainty of the unstable economy, there are many reasons why owning a home in the USA is still more beneficial than renting – like improving your chances of getting a date!

 

According to a recent survey conducted on behalf of Trulia, and reported on wrar.com, more than a third of women and 18 per cent of men would rather date a homeowner than a renter, whereas only two per cent of women and three per cent of men said they’d prefer to date a renter.

This might not swing your vote but it is a known fact that homeowners accumulate more wealth than renters. In a realtytimes.com article, Ken Johnson, editor, Journal of Housing Research at Florida International University said: “Not everyone should own a home, but from a financial perspective, people who are planning to stay in a property over the long term can benefit from buying.” Historically low interest rates and record levels of affordability make this an easier option.

However, most people don’t generally just buy because it’s the right time; they buy for stability and security for their families. A National Association of Realtor’s study that measured the effects on children of owning a home found a strong correlation between home ownership and educational achievement.

Children of homeowners were more likely to graduate and become financially stable adults and teenage girls were less likely to succumb to teenage pregnancy. The reasons, according to the study reported by Hill: “Homeowners are required to take on a greater responsibility such as home maintenance and acquiring the financial skills to handle mortgage payments. These life management skills may get transferred to their children.” Higher levels of home ownership were also shown to reduce crime rates because home owners had greater incentives to deter crime because they had more to lose.

So, renting might be a good temporary fix while you get familiar with the locality, but ownership trumps renting.

For details of property for sale in America, visit the USA listings on Rightmove Overseas. One way to save money when buying in the USA is to use a currency specialist when transferring your pounds into dollars to complete the purchase of your property. For more information on this, contact Smart Currency Exchange.

To understand the full step-by-step process to buying a property in America, collect The Overseas Guides Company’s ‘USA Property Buying Guide’