RISMEDIA, April 7, 2008- Despite the fact a home is one of the largest and most expensive purchases most Americans will ever make, those adults who have obtained or refinanced a home loan in the past 5 years typically spent only 5 hours researching a home loan, according to a recent survey(1) of 2,897 adults conducted by Harris Interactive(R) on behalf of leading real estate website Zillow.com. In fact, more time is typically spent researching a car purchase (8 hours) or major home improvements, such as a kitchen remodel (10 hours), and equal time is spent planning a single vacation (5 hours)(2). When calculated as time spent per dollar invested, this means Americans typically spend almost 80 times more time researching their vacation (.159 min./dollar) than a home loan (.002 min./dollar).
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