According to a recent MReport, prospective buyers are willing to pay more for the home they want. Lombardo Living conducted a survey which found that 41% of buyers would go over budget by an average of $25,000. They also found that average buyers look at more than 19 properties within a four month period as they were searching for a home. 50% of these buyers enlist the aid of a real estate agent for help finding their dream home. Roughly 75% of those surveyed use online resources such as Redfin or Zillow during their search.
WHAT ELSE DID THEY FIND?
Lombardo Living surveyed 1,794 homeowners to find out what matters most to home buyers today. The results revealed several top trends and that those surveyed admitted that they had to make many compromises when it came to picking their new home. The top compromises included the layout of the home, the age of the home, home size, updated kitchen, and updated bathrooms. There were factors that those surveyed would not compromise on such as architectural style, the neighborhood, and the school system. There were some revelations about factors that were deal-breakers for some prospective buyers. According to the research, one in three respondents stated they would back out from buying a home after receiving bad news from a home inspection. A few other of the deal breakers were inadequate size of the property, bad neighborhood, and subpar school systems.
Click here to read the full MReport and learn more.
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