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Purchase

Kind of like a snowflake, where no two are the same. Each person’s dream of homeownership is different. Aside from a solid foundation and effectual plumbing, Americans have widely diverging preferences whereas their real estate property is concerned.

For example, the National Association of Realtors (NAR,) found that the Generation X’ers, also known as the Eco Babies, had greater concerns about the exterior geographical location in terms of proximity to schools, playgrounds and parks. On the end of the spectrum, the same indicated that the more mature buyer was primarily interested in the internal lay-out of the property, specifically single-story homes in which the master bedroom was located on the main level.

For the fact that their research takes into consideration a wide range of demographics and metrics, i.e., locality, age, first-time homebuyers and repeat buyers and regions across America, not to mention the results of long-term studies. the NAR’s reports are deemed to some of the most comprehensive market research materials available on consumer buyer preferences.

Quite telling, the NAR’s findings also uncovered that residential homebuyers choose housing located in the suburbs or subdivisions over the city or urban developments. Another interesting outcrop from the reports relayed that property purchased by first-time buyers was generally older that that of second (or multiple) time purchases and was most often located in an urban city area. Therefore, the overall discovery of the most recent report is that second or multiple time purchases tend to, more often than not, opt to purchase new properties.

For apparent climate differences, there are common intense regional differences. While Southerners rated central air as one of the most essential features in a home (90 percent of the time,) a smaller percentage (around 25 percent) of Northeasterners also prioritized the element of having a central air conditioner. For West Coast home buyers, their amenity of choice, were found to be patios and | or fencing structures. And among Midwesterners Northeasterners, their focal point tended to be on finding homes with finished basements.

Yet, universal all over the US, a home situated near public transportation, remains to be one of the number one preferred features for both city and suburban property buyers. For the rural buyer looking for a new home, the top priority is to find a reasonably priced open lot on which they can build a single story-home. In contrast, suburban buyers are on the trail for a home which, no more than ten-years-old, comes equipped with an eat-in-kitchen area and an underground sprinkler system.