Factors That Can Influence Home Buying

A home reflects its owner’s personality, tastes and values. So, because individuals are unique and have their own idea of what’s important when choosing a home, Redfin decided to compare and contrast what different types of home buyers care about when choosing a place to call home. Redfin surveyed more than 1,000 Americans on the features and factors that would matter most to them if they were buying a home, and then posed a series of questions about their lifestyles and preferences. Here, the findings on what buyers valued most when it came to choosing a home of their own.

Men vs. women

Although some priorities seemed to resonate equally with each gender, significant differences emerged as well. The inclusion of exterior maintenance, for example, was of greater concern to men, perhaps because they typically spend more than twice as much time as women on lawn and garden care. Female respondents emphasized interior features, identifying the inclusion of appliances and the home’s interior layout as more important priorities. Similarly, women viewed bedroom and bathroom counts as crucial elements to a greater extent than men. Women also placed a greater focus on the financial aspects of home buying than their male counterparts. Home price, resale value, and taxes and insurance costs were all more important to women. They also expressed the importance of local safety and school quality to a greater degree. Perhaps this certainty about what they want explains why single women bought significantly more homes than single men in 2017.

Parents

Parenthood seemed to make potential buyers far more precise about their real estate needs. Concerning virtually every feature, parents expressed greater importance than those without kids. The largest difference emerged on the subject of education: Parents rated a good school district 33 percent more important than non-parents. Perhaps couples without children should consider local schools more thoroughly, however. Experts caution young buyers that a troubled school district could come back to haunt them later, if only about their home’s potential resale value. Parents also were more concerned with the number of bedrooms and bathrooms. That’s a logical consideration for growing families, or simply for families with kids growing older. They also placed a greater emphasis on fencing, and their concerns likely extend past privacy. With young kids running around the yard, a little separation from the street always is a welcome safety measure.

Android vs. iPhone users

Users of iPhones seemed to have a greater attraction to pools. They also saw appliances as more important than Android users. Because the brand has emphasized the union of beauty and function in all of its products, it’s no wonder Apple fans are picky when it comes to their dishwashers as well. Android users placed less importance on school quality and a central location. These statistics may simply reflect a need or preference for lower prices, however, as both of these factors can significantly increase a home’s resale value. Because Androids are significantly less expensive than iPhones, it may be that their users tend to be thriftier as well.

Pet owners

According to Redfin’s results, the type of furry friend you prefer also may influence your hunt for a home. Dog people tended to feel more strongly about a range of features likely needed to accommodate their pups. These factors included the amount of land surrounding their home, as well as fencing to keep their pets contained. Neighborhood appearance also was more important to dog people, meaning they have good reason to pick up after their dogs on local sidewalks. Dog fans also were 8.9 percent more concerned about school quality, a statistic with two possible explanations. Perhaps families with kids also tend to have a dog as well, hence the importance of local education. Or maybe dog-lovers are using their pets to train themselves for future parenthood and, as a result, value good schools. Recent research shows that many millennials are likely to see pet ownership as a precursor to having kids.

Fantasy vs. fiction

Marvel and DC fans expressed significantly different ideas about what mattered most in a home, such as the DC cohort’s preference for fencing. Perhaps the gates of Wayne Manor inspire them, although the Batcave boasts more robust defenses. Marvel fans eyed internal upgrades, such as the interior layout and a modern kitchen. Neighborhood safety and school quality also were more important to Marvel fans. Maybe that’s because education and local crime were both essential to Spider-Man’s rise. A field trip was the occasion for Peter Parker’s encounter with a fateful spider, and a thief’s attack on his uncle solidified his resolve to fight crime.

Other personality preferences

Early birds were found to appreciate patios and neighborhood appearance more than those who stayed up late. Perhaps early risers imagine morning coffee or neighborhood walks in aesthetically pleasing settings, which are a lot more difficult to appreciate at night. Interestingly, materially oriented people were pickier about the physical features of a home and its location. One might expect experience-seekers to value a central location more highly, but perhaps distance from convenient urban shopping puts them closer to more rugged adventures. As with those who used iPhones, Mac users were fans of pools and appliances. But an entirely new divide emerged when Redfin asked respondents to pick a side of the Taylor-Kanye feud. Swift devotees were significantly more focused on the bathroom and bedroom count than Kanye fans. Perhaps they’re simply modeling their preferences after their idol’s: Swift owns a handful of homes, none of which are exactly lacking regarding extra space. Then again, it’s not like Kanye and spouse Kim Kardashian West are cramped in their own California manor.

To find out more, read the full article on Redfin!

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