Why Buyers Choose a Particular Home

When it comes to home buyer preference, there are a lot of variables. Some people buy according to price, while others are looking for a particular neighborhood or style of home. A recent analysis of the Department of Housing and Urban Development’s American Housing Survey done by the National Association of Home Builders looked at what’s most important to buyers of both new and existing homes. According to the report, the top two reasons a buyer chooses a particular home are size and layout/design. In fact, 76 percent of buyers named size the most important factor and 74 percent said layout. Neighborhood came in third at 72 percent of buyers. New home buyers named similar features but added exterior appearance and construction quality to their list of deciding factors. They were also even more likely to name these features as important than buyers of previously owned homes. Among first-time buyers, the home’s price was a bigger factor than among other buyers. First timers were also more likely to look for a neighborhood that was close to work, family, and friends. Other buyers said the neighborhood they moved to would be based primarily on the house they were interested in and safety. To a lesser extent, potential home buyers were interested in buying in a good school district, though that tended to be more important to new home buyers than other types of buyers. More here.