Family is how a house becomes a home
Major trend in new buyers habits
Buying a home is often timed around a life's milestone. Things change when you get married and begin a family. Buyers begin to look at things differently. It is no longer a bachelor pad or roommate situation. Buyers are now looking for a place to call home and maybe raise a family.
Buyers tend to look for a good school district and something close to family and friends when having children. Family and friends can become a good source of support when raising children.
Coldwell Banker recently conducted a nation wide study among homeowners with children under the age of 18. The study showed 70% of homeowners bought a home within 30 minutes to their extended family and 42% of homeowners bought a home within 10 minutes.
The study also showed that 65% of buyers, purchase their first home before getting pregnant or within one year of their child's birth. 43% of buyers purchase their first home before becoming pregnant with their first child, 7% purchase during pregnancy, and 15% bought their first home before their first child turned one.
The survey is just a reminder of how family is a big part of turning a house into a home. Buying a home goes beyond mortgage numbers. It is about family and community.
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