Renters will sacrifice to buy a home, study shows

By Ilyce Glink

(MoneyWatch) The changing perception of homeownership – that it’s not the investment it once was – has not deterred a generation of renters from wanting to own a home.

As houses hit their most affordable prices in decades and mortgage rates continue to drop, home ownership remains a dream for many Americans, and they are willing to sacrifice lifestyle choices to get it, according to a new study from Century 21 Real Estate.

Eighty-two percent of renters are looking to buy their own home, according to the study conducted in April. Most of those renters – 80 percent – would also sacrifice lifestyle choices such as dining out, shopping, vacations and other luxuries to own their dream home. Read more about this study>