Bank of America recently released their first-ever Home Buyer Insights Report which explored the attitudes, behaviors and preferences of America’s modern home-buyer . Among the survey’s many findings, 75% said they’re looking for a home they can grow into versus buying a starter-home. Sixty-nine percent said they willing to wait longer and save more money rather than settling on a smaller home.
The survey sampled over 1000 respondents throughout the U.S., comprised of adults 18+ who want to buy a home in the future.
Homebuyers today are motivated by both emotional and practical reasons. Nearly all want more space, but a majority of homebuyers, especially those purchasing their first home, are also looking for a place to call their own, put down roots and make memories. They value the emotional benefits of owning a home as much as the financial ones.
