Characteristics of buyers and the HOME they buy

Main Characteristics of Buyers & the 

Homes they Buy

Welcome to our blog. Today we come up with an interesting topic which helps you to understand the characteristics of Buyers which help you to sell property easily. According to a survey, we get to know about what buyers need or demand. Buyers are very strategic in their home search and compare their property with other. Best real estate company in Lucknow

Before buying a property buyers must keep in mind that real estate markets are hyper-local, so consult a local real estate agent who can walk you through what is happening in your area. We have discussed few main characteristics of home buyers and the about the home which is to be purchased.

Main characteristics of home buyers are:-

         i.            According to a survey maximum home buyers were first-time buyers, which is still at a suppressed level from the historical norm of 40%.

       ii.            Approximately 14% of buyers purchased a multi-generational home due to children over the age of 18 moving back into the house, cost savings, and health and care taking of aging parents.

      iii.            The typical buyers was 42-years-old, while the typical first-time buyers was 31 and the buyers who are getting their second property are around 52. They want to invest in property as it’s their biggest lifetime investment.

     iv.            Maximum numbers of home buyers were married couples and they contribute highest shares in buying property as they prefer to buy their own house and live individual in their sweet home.

Characteristics of Homes which is to be purchased:-

         i.            When you are considering for purchasing a home, heating and cooling costs were at least 85% of buyers and whereas commuting costs should be considered at least somewhat important by 73% of buyers.

       ii.            New home buyers bought a new home to avoid renovations or problems with plumbing or electrical, and the ability to customize their home. Home buyers who bought previously owned homes purchased their home for a better price and overall value, and the charm and character their home provides.

      iii.            New home buyers continue to drag at a share of 16% of all recent home purchase.

     iv.            Maximum number of home buyers purchased a detached single-family home.

       v.            Around 14% of recent buyers over the age of 50 bought a home in senior-related housing, either for themselves or for their relative.

     vi.            Typical home purchased was 2000 sq ft. in size with 3-bedrooms and 2-bathrooms.