What Homebuyers Are Prioritizing in Their Search

More than half of recent homebuyers used a Realtor® to find their home.

With real estate open again in Pennsylvania, Realtors® may find themselves quite busy. But what are buyers searching for? According to a survey from Lombardo Homes, price, location and neighborhood were the top features homebuyers focus on when searching for their home. And 41% are willing to go over their predetermined budget to get what they want to the tune of $25,000 on average.

Regardless, buyers do find that they have to compromise on something. Thirty-three percent said they had to compromise on some aspect of their home, 29% said it was the layout, 29% said it was the age of the home or work that the home needed, 23% said the kitchen and 19% said the bathrooms. The top reason buyers compromised is because they couldn’t afford what they really wanted, while 20% said they couldn’t find exactly what they were looking for.

Things homebuyers aren’t too keen to compromise on? The style of the home, the neighborhood and the schools, they said.

Most buyers know what they want, or at least have a clear idea, so it’s not surprising that buyers reported it took them about four months to find a home, and they looked at an average of 19 homes before settling on one.

However, it’s not always smooth sailing after a buyer finds “the one.” One in three homebuyers have backed out of buying a home. Of those who have, 34% said it was due to the results of the home inspection, while 29% changed their mind about the house and 18% changed their mind about their budget.