Are you in the market for your first home? If so, are you looking at luxury homes for sale? It’s interesting to note that many new homebuyers want to purchase luxury real estate that hasn’t been lived in previously. Most of these prospective homebuyers want to avoid dealing with renovations and other potential issues.
Zillow states, for example, that 48% of buyers want to move into a new home that hasn’t been lived in previously. Energy-efficiency is at the top of the list for 48% of home buyers that are planning to purchase new, rather than older, homes.
Are you looking for a luxury townhouse? Zillow indicated that 23% of Millennial homebuyers tend to look at these types of homes on a regular basis. These and other prospective homebuyers, approximately 20%, were actually planning to purchase a townhouse rather than another type of home.
Is walkability important to you? Urban Land Institute conducted a recent survey where it was discovered that this was important for 50% of its participants. Whether it was at the top of their list or a high priority, walkability was a determining factor in where people chose to purchase a home.
While more Millennials prefer to live in walkable neighborhoods than Baby Boomers, there isn’t that much of a difference in their preference for walkability. Millennials chime in at 56%, and Baby Boomers at 46%, according to the survey.
When it comes to making renovations and encountering plumbing or electrical issues, a large percentage of homebuyers want to avoid these. The survey showed that 34% of individuals that purchased brand new homes did so primarily for this reason. Since these homes are well-insulated, have all new plumbing and electrical systems along with other energy-efficient features, it makes sense to purchase a new construction.
How long have you been thinking about looking at houses for sale? The results from a Realtor.com survey revealed that 73% of its participants had been thinking about purchasing a home for under 3 months. Furthermore, the survey also predicted that 61% of 2017 homebuyers will be less than 35 years old.
Whether you’re planning to purchase a townhouse or are interested in looking at other types of luxury homes, your realtor will be able to show you their recent listings. Furthermore, a real estate agent will be able to save you time and energy by showing you the types of homes that are on your wish list, including a walkable neighborhood.