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Poll: Few homeowners regret purchase

Surprise! Few homeowners regret purchase
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Ninety percent of homeowners say they don't regret buying their home despite a nationwide tsunami of foreclosures, short sales and loan modifications, according to a national poll commissioned by Bankrate.com.

By contrast, just 9 percent of homeowners answered "yes" to the question, "Do you have any regrets about buying your current home?"

Americans' contentment with their homes is probably the biggest surprise in a June 24 to June 27 poll of 1,001 randomly selected adults, conducted by Princeton Survey Research Associates.

"People like to own something and make it their own and plant flowers in the front yard," says Anthony LaGiglia, a financial planner and managing director of J.J. Burns & Co. in Melville, N.Y. "Many people feel an attachment to that and wouldn't want to regret it."

Here's a result that's not so startling: Homeowners have become savvier about their mortgages.

In this year's survey, only 8 percent of homeowners with mortgages didn't know whether they have a fixed-rate or adjustable-rate loan, or something more exotic. Compare that to two years ago, when a Bankrate-commissioned poll found 26 percent of borrowers couldn't identify their mortgage type.

For more poll results, click through the following slides.


 

 

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