Move-In Ready Home is #1 Home Buying Priority for Canadians
Take the familiar saying "location, location, location" and give it a shuffle...it may no longer be the mantra of today's home buyer according to a recent survey!
According to a survey of home buyers by Century 21 Canada, a whopping 25% of Canadians rank buying a home in which sellers have already done the renovations, and is thus move-in ready, as their number one home buying priority. Second and third priorities were tied with location (23%) and having funds left over for personal expenses also at (23%).
Different demographics have different ideas of what makes the Canadian dream home?
Millennials position themselves to succeed:
- Millennials are twice as likely as Boomers (Millennials 33%, Baby Boomers 17%) to rank location as their top home buying priority, with young professionals especially focused on this factor.
- Millennials place higher importance on having a shorter commute than other generations (Millennials 46%, Baby Boomers 26%) when asked what they look for in a home location.
Boomers are social butterflies, who use their home as a base:
- Boomers rank having social activities nearby in their top home location priorities (ranked as one of their top three location priorities: Baby Boomers 77%, Millennials 52%).
- Boomers place a higher emphasis on a sense of belonging in the community they purchase in (Baby Boomers 15%, Millennials 10%).
- Boomers are more interested in purchasing in a neighbourhood that has a strong community culture that fits them (Baby Boomers 19%, Millennials 10%).
If you're thinking of selling your home in the near future, you may want to get that can of paint sooner than you anticipated. Canadians are planning to move soon with half surveyed (49%) planning to move in the next five years, including one-in-four within the next two years (23%).
What renovations are worth the investment if you are planning to sell within the next five years? Find out! Some reno's will not impact your bottom line so save your money (and your time!). If you want personal advice, contact me - I would be happy to come and take a look and give you some guidance...helping people is what I do best!