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First-time buyers changing moving habits

February 10, 2011 - Consumers purchasing a home for the first time are shying away from fixer-uppers, instead favoring homes that won't need much work before they unpack their moving boxes.

A survey by Coldwell Banker Real Estate found 87 percent of first-time buyers considered it important to find a home that was move-in ready. Buyers also continued to put importance on location, with 78 percent saying they looked for a home that was near shops and services, 75 percent saying their home needed to be close to their workplace, and nearly two-thirds saying they wanted to be near top schools.

First-time buyers are often taking more time to find the home of their dreams, said the survey, with most looking at more than 11 homes before settling on one.

"There's a real 'a-ha' moment for sellers revealed by this survey that the condition and quality of their home matters a great deal to first-time homebuyers," said Diann Patton, consumer real estate specialist at Coldwell Banker Real Estate. "They can be choosy about what appeals to them and are recognizing the benefits of the low prices and wide selection of homes in many areas."

Low prices are also providing a more affordable experience for those hiring moving companies and purchasing a new home. CoreLogic reported national home prices declined more than 5 percent in December.
 

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