A recent study by the NATIONAL ASSOCIATION OF REALTORS® showed today’s home buyers are likely to compromise on price rather than schools.
If you’ve ever purchased a home or even thought of doing so, you’ve probably had a home buying wish list consisting of various features, the neighborhood, perfect price, just the right size and upgrades throughout of course. Which of those features would you likely give up first?
Surprisingly 18% of home buyers compromised on price, the most out of the group. Size of home and condition of home each came in at 16% with lot size at 13%.
What’s interesting is how important schools and neighborhoods really are to most home buyers. Out of all recent home buyers surveyed only 2% compromised over the distance from school, 3% over the quality of the schools and 5% compromised on the quality of the neighborhood.
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This research really reflects our desire as home buyers to be in communities focused on good schools where we can grow our kids in even if that means compromising on price, size, condition and even our commute to work which accounted for 12% of home buyers who compromised it that area.
View the data: CHARACTERISTICS OF HOME WHICH BUYER COMPROMISED, BY ADULT COMPOSITION OF HOUSEHOLD
About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
