Challenges of getting the home you want
Roseville, CA- More than half (55 percent) of California prospective homebuyers who were actively searching for a property to purchase during the second quarter of this year say their efforts were not successful.
These searches were for three months or longer and top reasons for their failed searches were:
- Price: 50 percent of prospective buyers said they were unable to find a home at a price they could afford.
- Location: 43 percent we not able to find a home in the neighborhoods of choice.
- Features: 40 percent said they could not find a home with the features they wanted.
A majority of buyers who reported an unsuccessful outcome with their home search said they would continue to look. Here is a breakdown of their plans:
- Location: 62 percent said they would continue to look for a home in their preferred location. Anothe4r 36 percent indicted they would be expanding their search area.
- Features: 21 percent said they would consider a smaller and/or older home with fewer desired features.
- Price: 16 percent were willing to expand their search by increasing the price they were willing to pay.
Balancing location, price and features is a not an easy task for most buyers.
Many prospective buyers start looking with not much or any knowledge of the current housing market. For some, finding out that homes with the features they desire in the community they want to live is more money than they want to spend and they give up quickly. As the survey indicates most prospective buyers start learning and adjust their price range, change what they want to and find the right community.
About Julie Jalone
If you have any comments or questions about buying or selling in the current market, please contact me (916-899-6571) at the MagnumOne Realty office in Roseville. You can also reach me by emailing to firstname.lastname@example.org (DRE# 01418097)