Ipsos Public Affairs recently conducted a survey on behalf of Wells Fargo titled, “How America Views Homeownership.” Based on the results, it is great to see that homeownership is still a part of the American dream. According to the survey:
- 93% believe that homeownership is an achievement to be proud of.
- 86% believe that homeownership is a dream come true.
- 74% believe that right now is a good time to buy a home.
The survey also focused on how the Hispanic community views homeownership. When asked if they were considering buying a home in the next two years:
- 47% of Hispanic respondents said “maybe,” they “definitely will” or they “probably will.”
- 33% of Hispanic respondents said they “definitely will” or “probably will.”
But, among the Hispanic respondents, 50% perceive the mortgage process as being difficult or a hassle.
In general, among respondents who do not currently own a home, 23% said it is difficult to save enough money for a down payment. As we mentioned recently, even though many consumers continue to overestimate what they need to qualify for a home loan, more than 2.5 million Hispanics purchased their home with a down payment of less than 5%.
If you are part of the 47% of Hispanics who are considering buying a home, call your local real estate professional and learn about the opportunities available to you in your marketplace. Take advantage of the current market and make your dream of becoming a homeowner a reality!