Industry News

Home preferences differ between first-timers, repeat buyers

Survey finds common ground on air conditioning, walk-in closets
Published on Oct 28, 2004

Younger buyers care more about closeness to schools, parks and playgrounds, while older buyers are more interested in a bedroom on the main level and prefer single-story homes, according to a new survey on home-buyer preferences by the National Association of Realtors. Although most buyers choose homes located in suburbs or subdivisions, homes purchased by first-time buyers are more likely to be older and located in a central city, while repeat buyers are more likely to select a new home. Older buyers are more inclined to purchase in a small town. There are some strong regional differences. Nearly 90 percent of buyers in the South rate central air conditioning as a very important feature, compared to only 37 percent in the Northeast. Buyers in the West are more likely to desire a patio or fencing, while buyers in the Northeast and Midwest are more interested in a finished basement. The 2004 National Association of Realtors Profile of Buyer's Home Feature Preferences shows that amo...

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