What do First-Time Home Buyers want?
September 7, 2008
So….tell me what you want, what you REALLY, REALLY want? A recent survey found some interesting facts about first-time home buyers…
THEY WANT A LARGE HOME. Overwhelmingly, they want more space. Doesn’t matter if there is only one person or two…they still demand room to roam.
The SECOND most important thing – 81% of people stated they wanted a home in MOVE IN CONDITION. With the advent of HGTV–type shows, more and more buyers (first-time or sixtieth-time) want homes that need no repairs, no work and are move in ready. In the real estate industry, we call that “turn-key” condition. The television shows have created people who expect perfection and will wait till they find it. Only 7% of the American population would even consider a fixxer-upper. Not good news for those of you who have dated homes for sale.
Finally, the THIRD most desirable feature would be-PROXIMITY TO WORK. The long commute to the suburb is a thing of the past. People work hard and they want to play hard without driving an hour to get there. So when you are looking to buy and considering future resale potential, take into consideration the commute to your downtown business centers and where your home is located. It could be the most crucial decision you make.
I definitely agree with the first two points, and even though I have only been a renter, I have personally never based where on live on proximity to work.
If I like a neighborhood or certain place to live, I’m going to live there. Jobs might come-and-go.