Buying and Selling a home in the Greater Boston Area

5 Traits of today's Buyers in the MA Real Estate market?

Posted by Lois Ardito on Tue, Nov 2, 2010

 

Surveys are interesting, sometimes they're pretty accurate and sometimes depending on so many factors, they're just generalities. I came across this one last Thursday from Realtor Daily News updates on the Realtor.org site and I wondered how you, the consumer, would respond to the findings.  I couldn’t find any particulars on this survey  ( how many people were surveyed, what part of the country, etc.? ) so I decided to present it to you just as it was written, here it is:

Buyer Cambridge Real Estate Market5 Traits of Today's Home Buyers:

A survey by American Lives, a consumer research firm in California, conducted a study for the trade magazine Builder to answer that question. Here are their conclusions:

·

They are young. Most are under 45. Half said they had annual household incomes of $75,000 or less. Two-thirds are married.
·

They are frugal. They consistently told surveyors they were eager to live a simple lifestyle.
·

They are concerned about their financial future. About 70 percent said the economy is “not so good” with 27 percent saying it was getting worse and 27 percent saying it was getting better, and two-thirds saying it would get better in a year. Some 55 percent said they were concerned that they might lose their jobs.
·

They see themselves as energy efficient but not necessarilyCambridge MA Real Estate “green.” About 32 percent said they’d pay extra for energy-efficient features but only 16 percent said they’d pay extra for recycled or renewable construction materials.

Neighborhood is important. Ninety-five percent said they thought the community was as important as the home itself. Seventy-nine percent wanted the most square footage they could afford, but 69 percent said they’d consider a smaller home in the right neighborhood.

Source: Inman News, Mary Umberger (10/27/2010)

As a Realtor in the Boston/ Metro West area, I feel confident on commenting on the “Neighborhood is important” statement. I do think the folks who have decided to enter the market today are looking at the where more than the property itself.  Communte plays a big part of this shift because most people purchasing have to consider the driving distance or the availability of public transportation. Being close to their child’s DayCare or preferred school, family etc. also are priorities.

The other traits? Age, Living Simple Lives, Concern for Financial Future and Being Somewhat Green….I suppose we all fall into one or two of these categories at one time or another.  I'm just not convinced that you can wrap it all up so neatly and call it a profile.

What do you think? Do any of these findings apply to you? Can you relate?

I would love to hear your response!

Lois Ardito, principal

Take a look at our Better Buyer Kit for info on the buying process.

Topics: MA Real Estate, Boston Metro West, buying a home, Boston MA Real Estate

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