February 23, 2011

What do First-time Home Buyers Want?

First-time home buyer’s desires are switching from the “room for improvement” home to a move-in ready home. In fact, in a recent survey of first-time home buyers, 87% of them said they wanted a “move-in ready home.” In 2010 first-time home buyers made up about half of the market according to the National Association of REALTORS. First-time home buyers are also looking at more houses before they make their decision. First-time home buyers now typically look at more than 11 homes before they make their decision.

They also are very interested in the homes location. About 78% of new home buyers said the home had to be in an area convenient to shopping and services. Also, nearly three-quarters of those surveyed said it was important that their new home was near their workplace. Two-thirds of those surveyed said that it was very important to be close to “highly rated school” both public and private. First time home buyers surveyed had a positive outlook on their recent purchase. Half of them said they found a home in a more desirable neighborhood than expected, and that the real estate market offered them more opportunities than they had expected. Of the first time home purchasers surveyed, 61% were able to get the home at a better price, and 40% of them were able to get more space than expected!

For more information about the central Indiana real estate market, give me a call or text at 317-413-5311, or email me at .

Posted by: Jeremy Page