Don Burnham

 
Back to Blog

I thought the following article was a good summary of some of the market trends I have 

noticed.Please give me a call for recomendations on professionals that can assists with any required work.  Don. 


Survey reveals current buyers fall into two categories

Published Nov 11, 2013 in REV By Jean Sorensen

The millennials (known also as the children of baby boomers born between 1972-1992) and the post Second World War baby boomers (born 1946-1965) are making the greatest impact on the real estate industry today.

“Both the boomers and the millennials want move-in ready homes,” says Don Lawby. His company, in conjunction with Rona, recently conducted a national home buyers preference survey that looked at the generations’ purchasing preferences and regional differences.

“Time is very important to people…they want to spend time doing what they want to do and not the things have to do,” says Lawby. The survey also showed that 37 per cent of millennials planned to move within two years.

“The message that it sends sellers is that if you are thinking of selling or putting your home on the market and something needs to be done, do it before you put it on the market,” Lawby says, adding it may be something as basic as painting a room. Digital images of the home showing its curb appeal are becoming more important, says Lawby.  Sellers should be aware of how the home looks when presented digitally.

Lawby says the company made the decision to conduct the survey to see “if it really was about location, location, location.”  While the old maxim still applies, it is impacted by lifestyle choices to a greater degree than in the past, he says.

There is a general shift away from long commutes and greater focus on family time and career choices by the millennials. The survey showed a short commute was important to 46 per cent of millennials and only 25 per cent of baby boomers, the demographic group that caused bedroom communities to expand around larger cities a generation ago.

Baby boomers are looking to enjoy leisure time such as pursuing travel or hobbies in their move-in ready homes as they downsize. The survey found that 28 per cent of boomers wanted funds left over when buying a house, compared to 18 per cent of millennials.

Many greying boomers (8.2 million according to Statistics Canada) no longer want to maintain a single-family house or empty nest.

In B.C., Lawby says it’s about lifestyle. Buyers want to be close to recreational facilities, services and entertainment.

 

Comments

No comments

Post Your Comment:

*indicates required fields.
Your Name:*
Please note, your email will not be shown publicly
Your Email (will not be published):*
Comment:*
Please type the text as it appears above:
Categories

Finding your dream home is just a click away, start your search!  Search Now

contact me anytime

Office Location:

791 Goldstream Ave #101 Victoria British Columbia V9B 2X5 Canada

Don Burnham

I make myself available at all times. My web site is here to help you 24 hours a day. You can search listings at your own convenience, browse reports, and read up on real estate info on your own terms. When you are ready to see a listing in person, or just have a simple question, please dont hesitate to contact me!

 

When you make the important decision to buy or sell a home, I am committed to going the extra mile to ensure that all of your needs are successfully met in a professional and honest manner.

Contact Form
*indicates required fields.
Your Email:*
Your Name:*
Your Telephone:
Subject:
Message:*
Please type the text as it appears above: