When you’ve already bought one or two homes in the past, you might know exactly what you want in your next one. On top of that, you'll probably want a home that’s move-in ready since you’ve “been there done that” at least a few times with the home renovation thing-y.
Fewer buyers in their 50’s and older will compromise on a home purchase and there’s research to back this up. In a survey of over 90,000 recent home buyers and sellers, about half of people 58 and older made no compromises at all during their recent home purchase, according to the National Association of Realtors. By comparison only 28% of the youngest home buyers didn’t compromise, with most making all sorts of trade-offs on price, lot size, distance from job and the style of home. As the age increased the compromises went down.
First-time buyers may not have a clear idea what they really need. They might want a five-bedroom but find they never use two of them or want a formal dining room but only use that once or twice a year. When you reach a certain age, you have a much better idea of how you live or how you want to live and you’re going after what you want or really need. You’ve likely raised your family, now you’re interested in focusing on what your life-style not your kids.
Find out what's happening in Howellfor free with the latest updates from Patch.
The older you are, the newer you want your home to be, too, according to the NAR survey. In fact, older buyers may give up on finding an existing home that fits all their wants and go the route of building new instead. In new homes, empty nesters typically value entertaining spaces—their kitchens, eating spaces and gathering spaces—both inside and out, many work from home, so they value designated office space that doesn’t make them give up a bedroom. Ample storage is another popular desire. Location also is important, and many empty nesters prefer to be within walking distance of amenities including coffee shops and theaters. After raising a family often in an area not to close to commerce in order to have a nice yard, older buyers will often return to areas where things are in walking distance.
Find out what's happening in Howellfor free with the latest updates from Patch.
Resource: Amy Hoak Amy Hoak’s Home Economics, Sept. 30, 2013, MarketWatch
Pat Linde-Neidermeyer, Veltri Realtors
Email: PatatVeltri@Gmail.com
Call: 732-598-8348
www.VeltriRealtors.com
Now Here are this Week’s Closed Sales for your area.
FREEHOLD TWSP
72 Braeton Way, $258,000; 61 Oriskany Dr, $345,000
27 Lexington Rd, $405,000; 7 Bowers Dr, $835,000
HOWELL
30 Citation St, $31500; 244 Maxim Rd, $99,900
1418 Maxim Southard Rd, $164,900; 43 Salem Hill Rd, $250,800
2 Aldrich Dr, $265,000; 132 Starlight Rd, $274,900
15 Marc Dr, $290,000; 34 Livingston Dr, $308,000
7 Fenimore Rd, $332,500; 46 Springhill Dr, $344,000
19 Lorelei Dr, $382,000; 18 Mackenzie Ct , $752,000
JACKSON
33 Rhode Island Dr, $240,000; 308 Casey Ln, $282,500
319 Leesville Rd, $400,000; 3 Rue Monet, $425,000
91 Bates Rd, $443,000; 838 Perrineville Rd, $485,000
15 Cranberry Harvest Ct, $508,338
All closed sale prices listed are as submitted and recorded by the Monmouth Multiple Listing Service. Not responsible for typographical errors.
