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 Illinois home ownership satisfaction survey results. In the coming days, we will also announce the results from Texas and New York.
The complete Illinois 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?
Commentary from home owners who indicated price appreciation was not the primary reason they are unsatisfied with home ownership:
“I like having privacy, and the ability to decorate my home with my own style.”
“It’s paid for.”
“It’s better than renting and paying someone else’s mortgage. And hopefully one day we’ll get some equity back in our homes.”
“Paying myself rather than paying someone else.”
“I don’t have to share common areas within the structure with others, and no one living below or above me.”
“It’s yours. You can do what you want and you are not inconvenienced by a landlord or other tenants.”
“I own it. I have something to show for the money each month instead of rent receipts.”
“Freedom to alter according to my interests.”
“I can redecorate anyway I want and no one can tell me I can’t have pets. I don’t have someone snooping around with a key to my home.”
Commentary from home owners who indicated price depreciation was not the primary reason they are unsatisfied with home ownership:
“No one can fully fill you in on secondary costs til you are a member of the home ownership club. Water leaks. Busted pipes. Replacing a sump pump. Pest control. It all adds up. The house was affordable. But if your savings account doesn’t account for routine emergencies, wait. Because they will be routine.”
“Real estate taxes, home insurance. All are too high in IL.”
“The burden of financing the community unfairly lies with the homeowner. Taxes are no longer fare or within our power to modify or change. Our system no longer benefits or supports the gaining of honorable wealth through owning a home. The home has become a money pit.”
“It is too much work for single person, expenses keep rising, utilities keep rising.”