Industry News

Home preferences differ between first-timers, repeat buyers

Survey finds common ground on air conditioning, walk-in closets

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

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...