How Do Hispanics View Homeownership?

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How Do Hispanics View Homeownership? - Latina on Real Estate

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%.

In conclusion,

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!

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