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Top 5 Home Buying Influence Factors – What Should Be Important to You?

December 13, 2012 by     Real Estate

why-should-you-buy-a-homeWhen it comes to buying a home there are a million different things to consider before you take the leap and you are probably pulling your hair out just thinking about it. As both a Realtor and investor I want to narrow that list down a little bit with the help of a survey done by the National Association of Realtors so that you can focus on the things that are truly important in your buying decision and will be important to future buyers when you sell.

5. Quality of School District

Of all buyers surveyed 25% said that the quality of school district was one of their top priorities in picking a home. Of those who had children in the home and married without children yet the importance was much higher at 46% and 30%. If you have children or you are thinking of having children in the future schools are something to look at very closely. If you choose a beautiful home with bad schools your children or future children could end up with a sub par education.  www.greatschools.org is a great tool for researching schools in the areas you are considering buying in, my tip is to do research before you even start. The last thing you want to do is fall in love with a house just to find out it’s in a terrible school zone.

4. Neighborhood Design

The design of the neighborhood buyers are considering is our 4th top buying with 26% percent of those surveyed considered this a top concern. This catch all influence factor would cover the architecture of the homes, ascetics such as trees/landscaping, space between lots, side walks, and traditional vs new urbanism layout. The best way to feel this out is to spend some time in the neighborhood, do some driving, walking, and check out the scenery to see if it’s up to your standards. Theres nothing worse then moving in and realizing three weeks too late that traffic is horrible, its impossible to walk anywhere, and theres no tree shade in sight especially important for those hot southern states and the mid west.

3. Affordability

Number three on the list, which surprised me  wasn’t a bigger concern, is the affordability of the homes. Of the buyers survey 39% listed this as one of the top items on their list when looking for a new home to buy.  Unmarried couples and single males/females listed this even higher at over 40% . Really this should be your top priority because if you can’t afford the home you can’t afford the home. With this economy if you end up without a job and upside down in your mortgage you can be in a world of trouble. Luckily for you we have a short cut to help with affordability, by finding foreclosed  owner financed, and rent to own properties you can get a great deal on a home in a neighborhood that may have not been optional before due to price. Search our database from the homepage to start looking for affordable homes.

2. Convenience

Everyone loves convenience, so much so that in the survey it had to be broken down in 7 different convenience factors. Buyers found overwhelmingly that convenience to work was a top priority at 43% of those surveyed. Case studies have shown that commuters who spend more than 45 minutes traveling to work in one direction suffer from depression, weight gain, and other awful side affects due to missing healthy activities. If you find a group of neighborhoods close or in between you and your spouses jobs it can make for a much happier, healthier life.

1. Quality of Neighborhood

Neighborhood quality was listed as the most important buying factor to influence those surveyed at 61%. Neighborhood quality is listed so high most likely due to it encompassing other influence factors as well as additional stand alone items. The quality of the neighborhood can be judged by crime rates, schools, design, age/friendliness of neighbors, low speed limits, charismatic look and feel and the list goes on. Some of these items are more important than others but the more pros that you have than cons the better off you’ll be when it comes to that big decision.

home buying influence factor surveyFor additional home buying influence factors and how they stack up from the survey of buyers click on the image below to enlarge it. Happy holidays and home hunting, be sure to consider these factors before you buy a home!

 

 

 Sources Jessica Lautz , Wikipedia, National Association of Realtors, Huffington Post )