What Are Your Decision Points for Buying a House?
Buying or selling a home can be one of the most important and difficult things you do in your life. Finding the right home, with the right combination of indoor and outdoor space, location, and other features can be challenging. Real estate agents try and make it easier for you with online listings that give you all the relevant information, and even video tours of the houses. But even better, they can give you helpful advice on some of the most important choices you have to make.
A new generation of home buyers
As the millennials reach home buying age, changing tastes begin to manifest themselves in the real estate market. According to realtor.com, 61% of homebuyers are under 35 years old, as of 2017. Real estate agents are discovering that millennials? preferences when it comes to location, neighborhood types and facilities, and construction are quite different from preceding generations.
In general, millennials are looking for houses with ecofriendly features, like energy efficient construction and walkable neighborhoods. More than half or 56% of millennials prefer walkable neighborhoods, as compared to 46% of the baby boomers. And as many as 48% of all buyers now prefer energy efficient homes.
New construction versus old and quirky
The choice between a sparkling new home and an old, quirky one is a very personal one. Victorians have a charm of their own, with dormer windows and gingerbread mounding and even turrets, like something out of Charmed. Or you may be the type to prefer the sleek, clean lines of a modern construction, with efficient heating and cooling systems.
Old homes can have a lot of character, but they can come with a supply of problems, from cranky and loud heating systems to leaks and drafts that send energy costs skyrocketing. When it comes to convenience, newer homes do have the edge. Almost half of 48% of all home buyers prefer new houses that have never been lived in, according to the real estate site Zillow.
Type of building
Another big decision point is the choice between single family homes and apartments or condos. Here, the overwhelming majority or 83% of home buyers prefer single family homes, according to Zillow. That means some version of the classic homeowner ideal, a separate house on a tree lined street, perhaps even with a picket fence.
However, for many people apartments and even condos make more sense. They may prefer having more company nearby, for themselves or the kids. With condos, you lose a lot of freedom to make decisions about your home, but you also hand on much of the responsibility for maintenance to the condo association.
Whether you’re buying or selling a house, you’ll find that real estate agents are a good source of information, not only about the house but also the neighborhood, local regulations, schools, etc. And once you’ve made a decision, they will be able to walk you through the entire process of inspections, making an offer, and closing the deal. You may even end up inviting them to your housewarming party.