In the recent years following the housing market crash, would-be homeowners are warming to the idea of renting an apartment in Glen Allen, VA over owning their own home.
Many people still aspire to own a home, but most are still within the grips of the housing crisis. Because of this, some tend to assume the hard times are still upon them, or the worst is yet to come. Due to that effect, they may welcome the small recovery that has been seen recently in the housing market, but it does not sway them toward considering ownership of long-term properties.
"The old formula of buying and dying in your house is no longer the formula for many," said Peter Hart, chairman emeritus of Hart Research Associates. "The stigma of renting is no longer the case. When it comes to living the American dream, the overwhelming response (is) renting is just as appealing,"
There are, in fact, 57% of adults who believe that buying a home appears less appealing, while 54% believe renting has become a more appealing option in a recent study. Those numbers are based upon a survey over 1,400 adults.
Nearly half of all surveyed homeowners can see themselves becoming renters at some point in the future.
"You can still aspire to own a home but see renting in your future," said Rebecca Naser, a senior vice president at Hart. "It's not renting versus owning anymore. It's a continuum through life."
For more information on renting in Glen Allen, VA contact The Gardens at Twin Hickory.