Hundreds of renters say buying own home ‘an impossible dream’, poll finds
RENTERS want to own their own home so they can start a family, make a difference in the local community – and have space to grow their own fruit and veg.
Research of 1,000 adults saving to get on the property ladder also revealed 14% would like more room to start their own business in the hope of being their own boss one day.
And 19% would like to be able to foster or adopt their own pet, without having a landlord to worry about.
It also emerged one in three would simply like to “feel like a grown up” and 15% want to create a wild space in their garden to do their bit for nature.
A spokesperson from Shared Ownership Week, which commissioned the research, said: “The research has shown there are more reasons than you’d think as to why people would love to buy.
“It’s not simply a financial matter, of getting on the property ladder and knowing you’ve made a sound investment.
“Millions of renters have a desire to do good in their little corner of the world, that is a lot easier when you own it.”
The research also found 55% of renters consider it difficult to truly settle in one area when they’re unable to get on the ladder there.
But 21% are having significant difficulties buying their first property, with another 46% having at least somewhat of a hard time.
While 43% feel they’ve not been able to make their current rental property feel like a home.
More than a fifth (22%) lament that they don’t have an outdoor space to call their own, and 19% feel held back in what they want to do in life, by not owning property.
On average, renters have been saving for just over four-and-a-half years, without being able to make that first step.
As a result, 76% go as far as to say buying their own home feels like “an impossible dream”.
And 37% don’t believe buying a property is a realistic possibility, even in another five years.
Of those who are saving, 25% said it makes them feel miserable, while 22% are just annoyed, according to the OnePoll.com figures.
Shared Ownership Week’s spokesperson added: “In today’s housing market, getting on the property ladder may seem like a daunting task, but it’s absolutely achievable with the right guidance and resources.
“Becoming a homeowner is not just about having a place to call your own; it’s a milestone that signifies financial stability and a bright future.
“As the real estate market evolves, so do the opportunities for homeownership – there are lots of options, like shared ownership, that can help turn the dream into reality.”
Top 10 reasons renters want to own (other than financial reasons):
- Feeling like you truly belong where you live
- Being able to finally feel like a ‘grown up’
- Being able to host friends and family for once rather than the other way around
- Grow your own fruit and vegetables
- To have your own space to develop your cooking and baking skills
- To foster or adopt a pet
- To start a family
- You can put down roots in a local area and make a difference in the local community
- Create a wild space in the back garden to do my bit for wildflife
- Want to have the room to set up my own business
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