A consumer housing trends report by Zillow Group revealed features that are most important to new construction buyers during their search process.
For new construction buyers in the U.S., a safe and walkable neighborhood trumps being near family and friends, according to the Zillow Group New Construction Consumer Housing Trends Report 2018. Of the homeowners that purchased new construction homes, 88 percent found it very or extremely important that the neighborhood felt safe, 57 percent found it very or extremely important that the neighborhood is walkable, and 47 percent said living close to family and friends is very or extremely important.
The concept of a home’s newness and the confidence of knowing they likely won’t need to replace major appliances in the near future is a strong draw for new construction buyers.
According to the report, 49 percent of new construction buyers identified everything in the home being new as one of their top three reasons for purchasing new. New construction buyers place more importance on having their preferred finishes than existing home buyers (71 percent compared to 50 percent) and on energy efficiency (71 percent compared to 53 percent).
When it comes to home characteristics considered very or extremely important, affordability, preferred number of bedrooms, preferred floor plan/layout and air conditioning are at the top of the list for the majority of new construction buyers.
How New Construction Buyers Search
New construction buyers employ a variety of search tactics when they shop for a new home, with online resources topping the list, according to the report.