While there will always be a segment of the population that won’t settle for anything less than a McMansion, more and more 1st time buyers these days are thinking in practical terms rather than luxurious when it comes to their first home. Attitudes of first time buyers in Europe are also adjusting downward.
Decks, backyards, and balconies are still high on the list, but extensive square footage isn’t as in demand as it once was.
Realty Today reports:
Nowadays, a costly lifestyle doesn’t appeal to everyone anymore. New and existing homeowners, even first-time home buyers are thinking into the more practical side of things.
According to an article on marketwatch.com, a survey conducted on about 2,000 adults regarding home buying choices was recently concluded by the Harris Poll for Trulia.com. The results proved to be more realistically geared towards families who have children below 18 years of age, which comprised 75%, compared to 69% for singles who have no kids yet.
About 35% of the population surveyed said that they were able to successfully purchase their ”American Dream” home already. Fourteen percent said of buying a new home by next year, while 69% are willing to wait to do so in the next couple of years. Most people also chose to search for homes requiring less interior/exterior work compared to those homes that are older, making for 18% in the survey.
>> read the full article at realtytoday.com