97% Say Owning a Home Is Worth It

The majority of homeowners recently surveyed (61%) say homeownership anxiety has at least a moderate impact on their quality of life, but 97% still agree that owning a home is worth it, per Hippo Home Insurance. 

Homeownership-related stress can make a significant impact on homeowners’ well-being. Thirty-two percent said their home anxiety makes them feel restless or tense, 28% said it makes them lose sleep or sleep too much and 27% said it’s constantly on their mind distracting them.  

Of stressed homeowners, Gen Z and millennials are most anxiety-ridden, with 76% of them feeling moderately to extremely impacted by homeownership anxieties. This is compared to 51% of Gen X and baby boomer homeowners. 

One cause of stress is deferred home maintenance. Sixty-nine percent of homeowners said they had at least one maintenance or repair task they’ve been putting off, including: 

1. Landscaping and outdoor maintenance (47%) 
2. Cosmetic upgrades (44%) 
3. Plumbing (25%) 
4. Appliances (24%) 
5. Roof or exterior structures (22%) 

Of those putting off maintenance, 45% estimated their backlog would cost $5,000 or more to address fully. 

However, despite the stress and anxiety many homeowners feel, 97% still believe that owning a home is worth it overall. The top reasons the survey found were: 

1. Providing stability for their family (32%) 
2. Sense of stability and permanence (29%)
3. Pride of ownership and personal achievement (28%) 
4. Building equity and wealth (24%) 
5. Freedom to customize their own space (24%) (tie)