Price and proximity to work are top considerations for 1st time home buyers, while trade-up buyers tends to be concerned on the design and the neighborhood, based on "Characteristics of Home Buyers", an analysis of the recently released 2011 American Housing Survey (AHS). The survey is the most comprehensive national housing survey in the United States.
According to the survey, "38% of the 1st time home buyers said that price is their primary reason for selecting a particular home. While 30% said that proximity to work was the most frequently cited reason for choosing a specific neighborhood", said David Crowe, National Association of Home Builders (NAHB) chief economist.
On the other hand, Crowe said that, "The majority of trade-up buyers (36 percent) cited the design of the home as the primary reason for selecting a particular house, with 28 percent citing the looks and design of the community as the reason for choosing a specific neighborhood". (Source:www.nahb.org)
Another point in the survey was, most (55%) home buyers prefer to purchase a new home rather than an existing home. The reason behind for that preference is that new homes give home buyers options on how their new homes would look like based on their tastes and preferences.
Also the latest trend in home buying is to choose a home with energy efficient features that would permanently lower utility bills rather than buy an existing home without these features with only 2-3% price difference.
The Characteristics of Home Buyers report is available on
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