Real Estate Blog - What are first time buyers looking for in a house?

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What are first time buyers looking for in a house?

I love to work with first time buyers. Some of them may not know what they are looking for in a house. They just know they do not want to rent any more and they will tell you what they are comfortable paying per month.

I pre qualify buyers and tell them that even if they may qualify for more , they should decide what they are comfortable paying and joke with them that they may still want to go to McDonalds sometimes.

I have them describe their dream house and then tell them to have a must have list and a "would be nice to have " wish list.

Based on talking to many buyers I have made the following observation for my market. Top five things a first time buyer wishes for in a house are :

Basement is the most important.

A powder room comes in second.

School district comes in third

Garage comes in fourth

Convenient to work comes in fifth.

Among the Nice to have items are a fireplace, a full bath in master bedroom, finished basement, deck or patio and central air.

I have a great listing with nice upgrades but every one who comes to the open house has been saying they want a basement. I had two open houses and about 15 people. I am looking for someone who likes the other features of the house.

Posted by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES on 04/27/2008 03:03 PM

Comments (13)

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13 Comments on What are first time buyers looking for in a house?

I also think storage in general is a huge draw for first timers. So many rental units lack it.

04/27/2008 03:06 PM

by Staci Wolff (Advantage Realty)

I have found that the kitchen is biggest factor, especially for young couples.

04/27/2008 03:17 PM

by Marc Baysek-EXIT Realty Rockingham NC (EXIT Realty Platinum)

I've had some first time buyers that want everything updated in the home and others who want a fixer upper because they want to "make it their own." I think it really depends on the individual.

04/27/2008 05:27 PM

by Rhonda Walker (Long & Foster Real Estate, Inc.)

Staci, Yes they would like lots of storage.

Marc, Yes kitchen is a big factor and Rhonda some are handy and want a less expensive house which they can fix up.

When we search for homes we first search on a broad criteria and do not put storage as a requirement nor the type of kitchen. # of bedrooms, baths, garage, basement , school district.and the maximum price.

Once they start looking at homes then they decide what they prefer .

04/28/2008 05:40 AM

by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors)

Yea seems like alot of clients want basements, around here I think it is because of all the tornados

04/28/2008 08:13 PM

by BART WHITMORE REAL ESTATE CONSULTANT (THE REALTY MARKETPLACE)

This looks like some good advice Gita. First time Buyers are great to work with, I agree. Thanks very much

Don

04/29/2008 05:34 AM

by Donald Bradbury, REALTOR Bucks County PA (The Bradbury Team at Coldwell Banker Heritage)

Bart, Thanks for the comments. I would be scared to be in a basement when there is a tornado. But it makes sense.

Donald , Thanks for stopping by.

04/29/2008 05:57 AM

by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors)

Up here, the top five in order (from most to lesser) are convenient to work, garage, eat in kitchen, school district/neighborhood preference and yard.

04/29/2008 03:59 PM

by Jonathan Hall (William Pitt Sotheby's International Realty)

Gita, My Aunt hid in her basement and her roof and upper part of the house was lifted up and destroyed, she was unharmed in her basement.

04/29/2008 06:51 PM

by BART WHITMORE REAL ESTATE CONSULTANT (THE REALTY MARKETPLACE)

Jonathan, I can see why convenience to work should be on top of the list.

Bart, I will look at basements differently from now on.

04/30/2008 06:22 AM

by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors)

I have a couple that are first time buyer. They have lived in an apartment for years. For them a nice large yard is there dream. Can't blame them for that.

05/01/2008 03:02 PM

by Sharon Harris (AllQuest Real Estate)

I have had great listings without basements so I totoally understand the difficultly in thrying to sell your listing. However; you only need one buyer to come through that loves the home and does not care about basements.

05/03/2008 02:29 PM

by Linda Tremblay, Bucks County Real Estate (Long & Foster Real Estate, Inc, PA License #AB065488)

Linda, Thank you for the positive thoughts. I hope I will find that buyer soon.

05/03/2008 05:39 PM

by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors)

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