What Today's Home Buyers Want

Reblogger Lyn Sims
Real Estate Agent with RE/MAX Suburban

Survey stating what today's buyers are looking for & the subtle changes that have happened over the years. I agree with most but buyers still do not want to do much work at all.

They are looking for move-in ready. This is where my sellers & buyers have a huge disconnect.

 

 

Original content by Shar Sitter

Better Homes & Gardens did a Home Buyer Study to see what millennials are looking for in their first home. The 'next-gen' buyers may give you some insight on what to do to assist in the sale of your  home.

 

#1 ) Purchase With A Plan to Stay

 

36% of these potential buyers see themselves living in that home at least 10 years. I remember when that statistic was 4-5 years. What does that mean? It means that the view of a starter home has changed. These buyers are now investing in more expensive homes with more square footage and areas with good school districts. These sets of wants were typically on the lists for 'move-up' buyers so now there is more competition at that level. Now empty nesters are looking to the smaller start-up homes.

 

calendar-1255953_1280       #2) Home Buying Process Takes Longer

 

Not only is the loan process taking longer, making it even more important to get preapproved, but buyers are taking more time in looking. In 2012 first time home buyers took an average of 3 months from research to closing and repeat buyers took 2 1/2 months. Those same buyers are taking 5 months and 4 months respectively. One reason for this may be because everyone starts their home search online and there are more resources than ever now to do that. The buyers are educating themselves by researching builders, reading articles and doing more research.

 

 

#3) Buyers are Looking for Move In Ready

 

Ten years ago buyers would seek out fixer-uppers. Outdated kitchens and baths didn't scare them, nasty old carpet covering up wood floors wasn't a big deal. Now 52% of buyers want a newly built home or one that doesn't require any renovations or repairs before moving in. They are willing to do cosmetic changes or upgrades, they just don't want to deal with extensive work.

 

 

#4) The Kitchen Being the Most Important Room is Stronger Than Ever

 

The kitchen motivates the buyer more than ever and I know it did me! Islands are really big right now, both in wish lists and the ability to seat people. High end appliances with custom cabinets, double ovens for entertaining are all on the list. 66% of buyers selected  a state-of-the-art kitchen as their most desired luxury.   

 

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#5) It Has To Be A Good Investment

 

Today's buyer is looking to make good choices and 65% see buying a home as a good investment for their future. To maximize their investment they need to look at such things as the area (up and coming and growing) and the size of other houses in the neighborhood.

If you are in the market to buy a new home, or selling your home, these trends can help you to determine what your competition looks like.

 

Read full Better Homes & Garden article here.

 

 

 

 

 

Read full Better Homes & Garden article here.

 

 

Premier Home Staging and Redesign Firm Serving the Entire Minneapolis and St. Paul, MN Area

   

Rooms With Style

       
 

Shar Sitter

Website: http://roomswithstyle.com/

Portfolio:  Home Staging and Redesign Minneapolis, MN

Email: Shar@roomswithstyle.com

Although each house is unique there is one common goal...using our expertise to get your home sold as quickly as possible.

 

 

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Topic:
Home Selling
Location:
Illinois
Tags:
first time homebuyer
buyer preferences

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Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Lyn,  You pick a great reblog for us that miss it the first time around.  Hope you are doing okay!

 

Apr 16, 2020 11:54 AM #1
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Lyn... a great choice for a reblog and it certainly resonates with me here in Charlotte... we are the "land of new construction." Buyers, even for resale homes, check out all the new construction models... and that's what they expect all homes to look like.

Apr 17, 2020 10:48 AM #2
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Lyn Sims

Schaumburg Real Estate
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