Trends for Home Buyers

According to Better Homes and Gardens there are 5 trends for first time and repeat buyers. Learning about these trends can help with buying and selling your home.  Let’s take a look…

TREND  #1…

Millennials are looking for their dream home. This means that they are looking to buy a home that they can stay in for more than 10 years.  So much for that starter home…they are looking for more square footage, upgrades and good school districts.

TREND  #2…

The home buying process can take longer than it used to. First time home buyers average about 5 months whereas repeat buyers are averaging 4 months from start to close.  There are two possible reasons for this that can include the multitude of online search sites as well as the loan process. Searching these home sites can make the house hunting process sometimes take longer since there are so many options. Also, it is advised to get pre-approved prior starting the the search to help with shortening the loan process. Some home buyers are selling their home first and then renting so that they can snatch up the home they want when it is listed.

TREND  #3…

Buyers want a move-in ready home. Fixer-uppers are not as desired as they used to be.  Purchasing a newly built home or one with no renovations seems to be more appealing. It comes down to time and money for home buyers. Cosmetic upgrades are obviously not as deterring as structural changes or replacing AC units. Not knowing the resale value to certain renovations can also be a factor.

TREND #4…

Kitchens still sell houses! If you are going to upgrade, the kitchen is the place to do it. An updated kitchen can certainly influence a buyer to purchase a home.  Open floor plans, islands with seating, and double ovens are also on the desired list. Most buyers desire an updated kitchen over a theatre room or even having a pool.

TREND #5

Millenials want a good investment. Repeat buyers focus on size and style when purchasing whereas millennials are looking for a step towards financial stability. They are looking for growing areas and not purchasing the most expensive homes in that area. Thinking like a seller can help with making that good investment.

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