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Buying because it’s a grown-up thing to do

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Peer pressure can be subtle or explicit. Some people even impose pressure on themselves. Buying a home is a major milestone and a tangible display of financial maturity and success. If your friends, siblings, and co-workers all seem to be homeowners, you may sometimes feel as though you’re being a tad juvenile by not jumping on the same train.

Everyone has different needs, but not everyone should own a home, and certainly not at every point in his adult life. Besides, although they may never admit it, some homeowning friends and colleagues are jealous of you and other financially footloose and fancy-free renters.

A study even supports the notion that the life of a typical renter is, in some respects, better than that of the average homeowner. Peter Rossi and Eleanor Weber of the University of Massachusetts Social and Demographic Research Institute conducted a survey of thousands of people. Here are some of their findings:

 Homeowners are less social, on average, than renters — spending less time with friends, neighbors, and co-workers.

 Homeowners spend more time on household chores.

 Perhaps for the preceding reasons, renters have more sex and less marital discord and cope better with parenting than homeowners do!

Home Buying Kit For Dummies

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