Why People Buy

Top 10 Reasons Buyers Purchase a Home

Whether you are buying for the first time or making your next move, the motivations that drive homeownership are remarkably consistent. Here are the ten reasons buyers most commonly cite, backed by research from the National Association of REALTORS and other leading sources.

1. The desire to own a home of your own. Consistently the most cited reason buyers purchase. In NAR's 2024 survey, 64% of first-time buyers named this as their primary motivation. Owning your own home is a deeply personal milestone that no rental can replicate.
   Source: NAR Profile of Home Buyers and Sellers, 2024
2. A home is a proven financial investment. 79% of buyers believe purchasing a home is a good financial investment, and 39% of those say it outperforms owning stocks. Long-term appreciation, equity growth, and leverage make real estate one of the most accessible wealth-building tools available.
   Source: NAR Profile of Home Buyers and Sellers, 2024
3. Control over your living space. 94% of homeowners cite control over what they do with their home as a key benefit. Paint the walls, renovate the kitchen, plant a garden, get a dog. You set the terms.
   Source: NAR Promoting Home Ownership consumer survey, nar.realtor
4. Privacy and security. 91% of homeowners cite a sense of privacy and security as a meaningful benefit. A home that is yours provides stability and peace of mind that month-to-month tenancy simply cannot.
   Source: NAR Promoting Home Ownership consumer survey, nar.realtor
5. A good place to raise a family. 90% of homeowners say their home is a good place for their family and to raise children. Stable housing has been directly linked to better educational outcomes and social development for children.
   Source: NAR Promoting Home Ownership consumer survey; NAR Social Benefits of Stable Housing, 2012
6. Building long-term equity. Buyers who purchased 10 years ago have gained an average of $225,000 in equity. Each mortgage payment reduces your loan balance and builds an asset you own outright over time. Rent payments build wealth for your landlord.
   Source: NAR Promoting Home Ownership, nar.realtor
7. Predictable, stable housing costs. A fixed-rate mortgage locks in your principal and interest payment for the life of the loan. Rent has no ceiling. U.S. shelter costs have risen significantly decade over decade, while your locked-in mortgage payment stays the same.
   Source: U.S. Bureau of Labor Statistics, Consumer Price Index (Shelter component)
8. Community belonging and civic roots. Homeowners are more likely to vote, volunteer, and invest in their neighborhoods than renters, regardless of income level. Stable housing creates a deeper connection to the community around you.
   Source: NAR Social Benefits of Homeownership and Stable Housing, 2012
9. Tax advantages of homeownership. Homeowners may deduct mortgage interest and property taxes from taxable income. Upon sale, individuals can exclude up to $250,000 in capital gains ($500,000 for married couples filing jointly) from federal taxation.
   Source: IRS Publication 936; IRS Section 121
10. Creating generational wealth and a family legacy. A home is an asset that can be passed to children and grandchildren, anchoring financial security across generations. The wealth gap between homeowners and renters compounds significantly over time.
    Source: Federal Reserve Survey of Consumer Finances; Harvard Joint Center for Housing Studies

Spring 2026 Market Check

What's Happening in the Housing Market Today?

If you've been on the sidelines, waiting for the "right time" to buy, here's your honest read on where things stand this spring. Three questions buyers ask me most often:

Bottom line: rates are better than they've been in years, prices are still rising (just more slowly), and more homes are coming to market. Buyers who act this spring are entering a more balanced market than we've seen since 2019.

The Core Trade-off

The Difference Between Renting and Buying a Home

A lot of buyers ask whether renting is the safer choice right now. Here's what the data says:

Your Buying Power

What Today's Mortgage Rates Mean for Your Monthly Payment

With rates around 6.5%, here's what different loan amounts translate to in principal and interest (P&I only, before taxes and insurance):

Figures are estimated principal and interest only. Taxes, insurance, and HOA fees are additional. Consult your lender for a personalized payment estimate.

Notice how even a 0.5% drop in rates meaningfully reduces your monthly payment. If you're waiting for rates to fall before buying, consider this: lower rates typically bring more buyers into the market, which pushes prices higher. The savings on your rate can easily be offset by a higher purchase price.

Live Market Data

Greater Boston County Market Review

Single-family homes only · 3-month data through May 2026 · Updated monthly · Source: MLS PIN Area Market Survey

Source: MLS PIN Area Market Survey (AMS), single-family homes, 3-month data through May 2026. Months of Supply = Active Listings ÷ (Closings ÷ 3 months). SP:LP: Middlesex 103% · Norfolk 103% · Suffolk 100% · Essex 102%.

Spring 2026 Opportunity

Why This Spring Is a Good Time to Buy

Spring 2026 presents a window that buyers haven't had in years. Here's what's working in your favor:

Rates are the best they've been in three springs

Freddie Mac noted that the current rate environment is the most favorable for spring homebuying in three years. That's not a sales pitch, it's a data point.

Prices are still rising, but moderately

National home prices rose 1.7% year over year through February (FHFA). Forecasters at Fannie Mae project 14.8% cumulative appreciation nationally through 2030, averaging roughly 2.8% per year. Buyers who wait a year aren't waiting for prices to fall. They're waiting to pay more.

More inventory, but still a seller's market

With 4.4 months of supply nationally, we're still below the 6-month balanced-market threshold. That means sellers hold leverage, but buyers have more choices than they did in 2022 or 2023. In Greater Boston, supply remains tighter than the national picture. Homes in desirable towns and price ranges still move quickly.

Long-Term Value

How Homeownership Builds Wealth Over Time

One of the most important reasons to buy is what happens to your net worth over time. The data is not subtle:

Homeownership forces a discipline that renters rarely replicate through voluntary savings. Each payment reduces your principal balance and builds equity that belongs to you, not your landlord.

As of Q1 2026, ATTOM data shows that 43.3% of all mortgaged residential properties are considered "equity-rich" (the loan balance represents 50% or less of the property's estimated market value). The average homeowner with a mortgage carries approximately $295,000 in equity (CoreLogic, Q4 2025). That is generational wealth built by the act of buying and staying.

Inventory Update

Are More Homeowners Selling?

Yes, and it's meaningful. Here's what the data shows:

New listings are up 8.9% year over year, and total active inventory is up 10.5%. The "lock-in effect" that kept many sellers frozen in place when rates jumped to 7-8% has gradually eased as owners have adjusted expectations and life circumstances have continued to evolve.

What this means for buyers in Greater Boston: you have more homes to choose from than you did a year ago. That doesn't mean the market is soft. It means you're less likely to lose 6 listings in a row before landing one. Competition is real but more rational than 2021-2022 frenzies.

For buyers who have felt squeezed by lack of options, this spring is the most selection they've seen in years. Moving now, before summer demand peaks, gives you the best combination of available inventory and motivated sellers.

Your First Move

Why Pre-Approval Is Even More Important This Spring

Getting pre-approved before you tour a single home is not optional in today's market. Here's why it matters more than ever:

What pre-approval actually means

A pre-approval letter is a written commitment from a lender saying they've reviewed your financial documentation (income, assets, credit) and will lend you up to a specified amount, subject to appraisal and final underwriting. It's not the same as a pre-qualification, which is just an estimate based on what you told the lender.

Why sellers require it

In a market where the average home still receives 2.2 offers (NAR, March 2026), a listing agent's first question when an offer comes in is: do they have a pre-approval letter? Without one, your offer doesn't get the same serious consideration as the person standing next to you at the open house who has their letter in hand.

What it takes to get pre-approved

Your lender will typically need:

• W-2s or 1099s from the past two years
• Recent pay stubs (30 days)
• Bank and investment account statements (2-3 months)
• Photo ID
• Consent to pull your credit

Most lenders can turn around a pre-approval in 1-3 business days. Don't wait until you find the right house. Get it done this week.

After You Apply

Things to Avoid After Applying for a Mortgage

Once your mortgage application is in, your financial picture needs to stay exactly as the lender saw it until closing day. Common mistakes that can delay or kill your closing:

• Do not apply for new credit. A new car loan, credit card, or any inquiry can lower your credit score and change your debt-to-income ratio. Both affect your approval.
• Do not make large cash deposits without documentation. Lenders will ask about any unusual deposits. "I was holding it for a friend" is not a sufficient answer.
• Do not quit or change your job. Lenders verify employment right before closing. A job change, even a promotion to a new employer, can require a new application cycle.
• Do not co-sign a loan for anyone. It doesn't matter that you don't expect to pay it. It still shows as your debt.
• Do not make large purchases on credit. New furniture, appliances, or a car on credit before closing has torpedoed more deals than buyers realize.

The rule is simple: no major financial moves between application and closing without checking with your lender first.

When You're Ready to Buy

Advice for Making Your Strongest Offer on a Home

When the right home comes along, you want your offer to be the one that gets accepted. Here's what separates winning offers from the rest:

1. Lean on your agent's knowledge of local market conditions. In Greater Boston, some towns have very different pace and multiple-offer dynamics than others. The strategy that worked in one town may hurt you in the next. Your agent's job is to know this and advise accordingly.
2. Have your pre-approval letter ready to attach. Sending an offer without a pre-approval letter signals that you are not ready. Every serious offer comes with financing documentation.
3. Make a fair offer based on comparable sales, not wishful thinking. Lowball offers in a seller's market are typically not entertained. They can also put the listing agent and seller in a defensive posture that makes a deal harder to get done even if you come back at full price. Come in informed.
4. Trust the negotiation process. A counter-offer is not a rejection. Most deals involve at least one round of negotiation. The goal is getting to a number that works for both sides, not winning an argument. Your agent's job is to keep the deal moving toward the table.

Your Best Decision

Why You Should Work with a Real Estate Agent When You Buy

In the age of Zillow and Redfin, buyers sometimes wonder if they need an agent at all. The data and the reality of the transaction consistently say yes. Here's why:

In Massachusetts, buyer agent representation is covered in your transaction. There is no reason to navigate one of the largest financial decisions of your life without a professional in your corner.