According to a recent survey, people who own their own home are happier than those who rent.
Around 83% of home owners, who had invested in the property to improve it to their requirements, said that they were content. Just over half of tenants who were surveyed said the same thing. The poll, conducted by online estate agent TheHouseShop.com, found that there was a big divide between older home owners and younger ones, who may not yet have the funds required to decorate and modernise their home.
Of those aged 55 and over, 85% are likely to say that they are ‘very happy’ with their home, in comparison with other age groups. Of the over 55 age group, just 5% is likely to say that they are not satisfied with their home, while 17% of younger people are unhappy with their home. Just 16% of people aged 25 to 34 are ‘very happy’ with their home. The survey of 2,104 adults found that 73% of people in the UK are happy with their homes, although one person in 12 will become dissatisfied.
In comparison, 20% of tenants said that they were very unhappy or fairly unhappy with their current home, while less than 8% of home owners expressed the same sentiment. The results of the survey found that renters were twice as likely to feel unhappy with their homes than owners.
Buying a home also gives you a little more control of costs, especially if you can find a low fixed rate deal which lowers monthly payments. A CeMAP qualified mortgage advisor is likely to be able to help you find a suitable deal.
