5 Traits of Today’s Home Buyers, by Inwest Title a Utah Title Company

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 necessarily “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)

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