A Home Purchase Is Best Investment

September 3, 2008

Despite a generally sluggish market, investing in a home or other real estate remains as very sound investments, according to a recent consumer research study by Architectural Digest and Sotheby’s International Realty. The study was titled, "Seeking an Extraordinary Lifestyle." About 85 percent of respondents agreed with the statement: "I think real estate continues to be one of the better investments a person can make."

About 72 percent of respondents believe their primary home’s value has remained constant or increased in value over the past 12 months, while nearly two-thirds of respondents report that current conditions have "no effect" on their likelihood to sell their primary home. Sometime during the next year, 55 percent of million-dollar homeowners plan to buy, sell, build or invest in a new home. More than two-thirds of respondent homeowners (69 percent) agree that now is a good time to add to one’s real estate holdings.

Another interesting finding: Most respondents feel the media plays a role in the perception of the current real estate market conditions. A full 50 percent think that the media exaggerates conditions to make the market seem worse than it is.

Posted in Real Estate, Things of Interest