Buyer Concerns: Price, Proximity to Work and Design

March 18, 2013

Characteristics of Chicago homebuyersBuilders and agents, you won’t want to miss the latest “Characteristics of Home Buyers” report, which offers an analysis of the 2011 American Housing Survey (AHS) by the National Association of Home Builders (NAHB). You’ll find rich data about homebuyers, including self-reported desires and trends from 6.8 million sales that occurred in 2009 and 2010.

For first-time homebuyers, price and proximity to work were the chief concerns, with price being the highest concern among 38 percent of first-time homebuyers and proximity to work being the deciding factor for 30 percent. Move-up buyers on the other hand cited design as the motivating factor at 36 percent. The next closest desire for move-up buyers was for the looks and design of the community at 28 percent.

While the majority of homes purchased in 2009 and 2010 were existing homes, customer sentiment angled toward desiring a new home over a resale. This is because of the freedom of choice offered in a new home, such as for paint colors, fixtures, architectural flourishes and more. Finally, green homes got their due with nine out of 10 buyers stating they would prefer a more expensive home with lower, energy-efficient upkeep costs compared to a lower purchase price.

What are your top concerns when it comes to Chicago real estate? Share with us in the comments!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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