Home buyers in 2012 have some advantages over prospective buyers in other years: low interest rates and low home prices in most markets. Those advantages don’t necessarily translate into confidence about a home purchase. Buyers want to be sure they are buying a home that will at least maintain its market value, if not appreciate over the coming years. In order to feel more certain about their choice of home, today’s buyers desire a property that meets the three main factors that make a residence a good value: price, condition and location.
Roxanne Gennari, a sales associate with Coldwell Banker Residential Brokerage in Princeton Junction, N.J., says local real estate markets across the country vary in their strength.
“Since no one knows when the market will truly level out and values will start to climb, buyers are trying to insulate themselves from buying an overvalued home,” Gennari says. “Buyers are looking for the best deal they can get. In many cases, they only want to buy if they can get a house at a certain price.”
Buyers want a first-floor bedroom
Whether it is a master suite or a guest room or even a flexible room that can be converted into a bedroom someday, many homebuyers look for a first-floor bedroom. This trend, predicted for a decade or longer, finally seems to be coming to fruition now that baby boomers are getting older.
“The baby boom generation wants a first-floor bedroom because they are forecasting that they will stay in their home longer,” says Gary Rogers of Re/Max on the Charles in Waltham, Mass. “In addition, we’re seeing more extended family members moving in together, especially since people are staying healthy longer and living longer.”
Leisa Frye, a Realtor with Better Homes and Gardens Real Estate Metro Brokers in Roswell, Ga., says homebuyers in her area prefer a guest suite on the main level rather than a master suite, unless they are elderly.
“Buyers in their 30s, 40s and 50s usually want the master bedroom upstairs, so they can be near their kids,” says Frye. “If there are no health issues, they want to be upstairs, but they also want a bedroom and a full bath on the main level for their elderly parents and in-laws who live with them or even just visit.”