How Do Buyers Choose a Home

Recent NAR survey of home buyes nationwide indicates 7 key factors in chosing the home they bought

Remember the old joke? What are the 3 most important things in real estate? Location, location, location. Not much has changed, even with today's tech savvy buyers who have access to more data than ever before when scouting for their new home. Here are the top seven factors buyers stated they considered when choosing a new home in their recent purchase.

* 74% Neighborhood So yes, location makes a huge difference. To that end, how well are listing agents marketing the benefits of the neighborhood to prospective buyers? When you're buying, how would you describe the neighborhood where you want to live?
* 71% Price Of course, with the largest investment most people make in a lifetime, price matters. As neighborhoods are hammered by sales of distressed properties (short sales, foreclosures, REOs, HUDs, etc.) the average sales prices have decreased the past year or so. Still, in the Denver Metro market several neighborhoods are showing a stabalization of prices and a couple are even experiencing a slight increase in average sales prices!
* 34% Commute With gas prices bouncing around and people often working longer hours, the commute times are becoming an issue. Environmentally conscious people want to decrease their carbon footprint, so decreasing commute time is key to making that happen.
* 32% Schools Parents regularly state that good education is important to them for their children's future. Peceived quality of local schools and proximity to schools can be a huge factor in the decision of which neighborhoods to consider.
* 23% Nearby Friends and Family For many people, it is important to be close to family and friends. Whether it is to help a parent or child or be near like-minded people with whom you spend time, our closest relationships often guide where we consider living.
* 15% Recreation Whether it's proximity to the ball park or concerts or skiing, active adults choose to live where the living is convenient to their life style. People in the Denver Metro area enjoy many local and area parks, excellent recreation centers, professional and amateur sports teams, and commuity activities.
* 13% Shopping From convenient grocery shopping to easy access to boutiques or big box stores, like Costco or Home Depot, local shopping makes a difference for many home buyers. Several neighborhoods are known for their pedestrian-friendly shopping and restaurants which provide gathering places for neighbors.

Which of these do you think are most important to you?

What else was important to you when you bought your home?

I was wondering, how much of the marketing of your home addressed these items?

Let me know! Send your thoughts and comments to me at BethBakerOwens@comcast.net.