Purchasing a home is one of the most important and personal decisions individuals and families will ever make. Because it is essentially an investment in their future, location, convenience and affordability weigh heavily in the decision-making process.
According to the 2011 NAR Home Buyer and Seller Profile, buyers searched a median of 12 weeks and visited 12 homes before purchasing. Seventy-seven percent of respondents chose a detached single-family home, 9 percent chose a condo and 8 percent a townhouse or row house. Fifty-one percent bought homes in the suburbs and 18 percent in an urban area.
Why they choose what they choose… Quality of neighborhood was the most important factor for buyers – 67 percent of them identified this as most important – followed by 49 percent of buyers who said convenience to their jobs was most important; 45 percent said affordability. Talk to a REALTOR® about what influenced buyers in your area.