Earlier this week, HomeGain, one of the first companies to provide free instant home valuations online, announced the results of its 2012 National Home Ownership Satisfaction Survey. Homeowners were asked whether they were satisfied with owning a home and whether price appreciation or depreciation was a factor. Over 1,400 home owners from across the nation were surveyed. The complete 2012 national results were published on this blog.
Today we are releasing the California home ownership satisfaction survey results. In the coming days, we will also announce the results from Florida, Illinois, New York and Texas.
The complete California results can be found below. Click on a question to jump to the results:
- Overall, are you satisfied with home ownership?
- When did you purchase your home?
- What was the value of your home when you purchased it?
- What type of home did you purchase?
- What is your age?
Question 1:
Question 1a:
Question 1b:
Commentary from home owners who indicated price appreciation was not the primary reason they are unsatisfied with home ownership:
“Even a depreciated asset is still an asset.”
“I love owning a home,it is a great tax benefit. Being underwater is a pain, but things will get better.”
“I can do as I want. I don’t have to ask permission of anyone. And it is a wise investment in the long run.”
“Of course the investment in our home is important, but even more so is the knowledge that our children will have this house when we are gone, and their children, and so on. Our house is a home, a symbol of unity for our family and friends. Our walls ring with laughter, the land holds the graves of some very dear pets. I am pleased to have this security.”
“Its cheaper than renting and you don’t have to deal with landlords.”
“My monthly payment remains the same each month and I gain more equity each month. I have a yard that I can plant trees and plants and flowers in. I have more privacy then in an apartment.”
“Pride of ownership, being able to do what I want with it, privacy.”
“Price appreciation, tax benefits and the potential for outright ownership of the property without a mortgage.”
“I like having my own property and not wasting payments for someone else’s.”
“We have house that we like living in and we have been able to use some of the equity over the years, but now we are looking forward to paying it off entirely and not having any mortgage payments now that we are retiring.”
Commentary from home owners who indicated price depreciation was not the primary reason they are unsatisfied with home ownership:
“Taxes taxes taxes, upkeep-liability.”
“The cost of a home versus what you get out of it is out of balance. The price of a home should be about 1/3 of what most homes in California cost to bring the value in line with the benefit. I would suspect this is the case around the country.”
“Maintenance costs.”
“Too many changes in policies and unexpected increases to maintain the house.”
“Property tax too high, homeowners fee jumping without reason, special assessment fee, overwhelming. Property value down.”
“It is all the headache that goes along with it. I pay more as an owner than I do as a renter and for no benefit. Still I can count myself lucky. My home has not changed in price either way.”
Question 2:
Question 3:
Question 4:
Question 5:
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