80% Plus Rule of Home Buying
What’s Important to Ontario Buyers Today?
Anyone who has or is thinking of buying a home understands that many of the benefits, features and amenities that make a home attractive can be very subjective. What’s significant to one buyer can be different from the needs and wants of another. Some of the biggest personal motivators are lifestyle, affordability, family composition, special needs, age, ethnicity, security, and prestige.
5 Elements to Buying Common to Ontario Buyers
Yet certain factors in buying a home can be similar for the majority of buyers. The Ontario Real Estate Association (OREA) recently conducted a survey to gauge what concerns are considered important in buying a home. 80% or more of those surveyed regarded these 5 issues as fundamental to most.
- Safety: This was by far at the top of the list, cited by 93%. We all want to live in an area with a low crime rate and good building security.
- Perceived Value: 85% named this as a critical aspect. What makes a home a good buy was based on market conditions coupled with a home’s features and amenities.
- Low Maintenance: mentioned by 85% of voters. People have preferred low upkeep homes for some time now. We all lead busy lives and have less time than ever before for working around the house. Costs such as condo fees are also a factor. A turnkey, move-in home is desirable today.
- Location Close to Amenities: 80 per cent want to be close to facilities such as shopping and transportation.
- Near Work: “80 per cent of Ontarians between the ages of 18 to 34 felt this to be important.
If you would like to read the OREA Press Release in its entirety, please go to the following link, http://www.orea.com/en/About/Press-Releases/Press-Releases/August-15-2012 .