What is the current PA homebuyer looking 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.
Homebuyers are generally comfortable compromising on certain aspects of their future home. More than half of potential homebuyers in 2019 were willing to compromise on home layout, the age of the home, the potential need for home renovations, and a lack of ‘ideal’ kitchen layout.
Things homebuyers aren’t too keen to compromise on? The style of the home, the neighborhood and the schools, they said. Other important aspects future homebuyers around the country are focusing on are unique attributes like a fireplace, garage, and pool. In Pennsylvania, 60% of Gen X homebuyers say that off-street parking is a necessity, while the Silent Generation seems more focused on finding the perfect ranch-style home with an in-law suite.
As baby-boomers downsize, there has been a substantial uptick in searches for one-level living or a first-floor master suite in Pennsylvania.
Realtor’s are aware of a possible future trend of young home-buyers reprioritizing their dream home location. With Gen X and Gen Z focusing less on expensive cities and more on spacious suburbs, the trends may push away from a priority over aspects like walkability, parking, and commute times. A trend of many companies requiring their employees to commute to offices will likely expediate the exodus of large groups of first-time homebuyers from cities to suburban living in the coming years.