Reasons To Purchase A New Home

Dated: 02/16/2015

Views: 918

Image titleThere are many reasons why people choose to purchase a new home.  Reasons can vary from family to family or location to location across the United States.  According to the National Association of Realtors, only 4 reasons make up over 50% of why families choose to purchase new homes in 2014.  

1.  Desire to own a home (24%).  It is no secret that many home buyers do so to avoid paying rent.  They wish to put money toward something that one day they may call their own.  Paying your own mortgage is far more appealing than paying your landlord's mortgage.  

2.  Desire for a larger home (12%).  Family sizes change and needs change so many families upgrade once they outgrow the home they currently possess.  As families expand, many parents are expressing the want to have 3+ bedrooms on the same level.  The need to have children close to them at all times is becoming a very popular request.  

3.  Job related relocation or move (9%).  Moving due to a job relocation may not happen to most people but larger companies relocate their employees often.  Realtors can provide relocation packets from their local Chamber of Commerce to help families get acclimated to the city before actually becoming a resident.  Most information can be found online now but printed materials are available upon request.  

4. Change in family situation (8%).  This category can include multiple situations.  Some examples may include marriage and the merging of 2 households, a death in the family or passing of an estate, divorce, family emergency, or change in physical needs.  

The remaining reasons to purchase a home were all weighted pretty evenly and are as follows.  

5. Desire for a home in a better area (8%)

6. Affordability (5%)

7. Desire to be closer to friends/family (3%)

8. Desire for a smaller home (3%)

9. Retirement (3%)

10. Establish household (3%)

11. Financial Security (3%)

Everyone's situation is different.  No matter the reason for the decision to purchase the home, we can help!  Call Amy at the Jeff Merrill Team at Keller Williams Realty Sioux Falls to schedule your appointment to start your home search!  605-999-6459

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Amy Hendrix

After years of working in retail I have chosen the field of real estate to help stimulate my personal growth. I want to be involved, valued, and trusted by my clients and I want to do what is best for....

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