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Survey: Potential homebuyers favor design, location

03.07.2013

Consumers have specific expectations for the home they want.

The majority of homebuyers have special hopes and expectations when it comes to purchasing their new dwelling.

More than one-third of homebuyers look for a specific housing design when it comes to looking at a property, according to the 2011 American Housing Survey, compiled by the Census Bureau for the National Association of Home Builders. Another 28 percent noted they value the community's design, as well as the neighborhood when considering a home.

"Among first-time home buyers, price was the most frequently cited reason for selecting a particular house, with a 38 percent share," said David Crowe, chief economist for NAHB. "At 30 percent, proximity to work was the most frequently cited reason for choosing a specific neighborhood."

There was a vast majority of homes purchased that were existing properties, the report noted. Part of this was due to the effects of the economic downturn, which made buying new properties less attractive.

While many potential homebuyers may be picky about what home they want, a sizable number may notice higher prices. The home price situation rose more than 6 percent in February, according to a report from Clear Capital.

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