Shorewest Reports: Young Adults still Value Homeownership Posted on June 19, 2014 by socialmedia by 73% of Wisconsin residents ages 18 to 34 are still planning to buy a home in the next five years, according to a new survey by BMO Harris Bank. Plans for home ownership might even be higher if not for student loans. In all age groups, 44% of state residents expect to purchase a home in the next five years, citing four main reasons, BMO Harris said: • 73% want somewhere to call their own • 72% see it as a long-term investment • 61% want freedom to renovate • 61% want their own yard The survey also found that in metro Milwaukee, 52% of residents in all age groups expect to buy a home within the next five years. The survey also found that 14% of those purchasing a home in the next five years will be buying for the first time. According to the study, 70% of Wisconsin residents currently own their home and the other 30% rent. “Interest rates on mortgages are at an all-time low, making now the best time to buy a house,” said John Inzeo, President of Wisconsin Mortgage Corporation. “Not only are interest rates lower, but in many cases, renting could actually be more expensive.” “Now is a great time to buy a home,” says Joe Horning, President of Shorewest REALTORS®. “Interest rates are low and houses are moving fast on the market.” If you’re ready to purchase a home, or aren’t sure where to get started, contact one of our agents today. Tags: buying a home, current housing market, Home Buying, Home Sales, Housing Market, real estate advice, real estate news, shorewest, Shorewest Realtors, tips and advice, Wisconsin, Wisconsin Mortgage Corporation, wisconsin real estate Categories: Home Buying, Home Selling Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ