Which factor has the most influence on your purchasing decision?
Niche needs are things potential buyers would love to have in their new home. Pet owners prefer homes with fenced yards, gardeners want homes with a large lot to stretch their green thumbs, and socialites want plenty of square footage for hosting. Every potential buyer has a niche need, but those needs may not be as big of a factor in home buying decisions as you think.
Budget is the biggest influence for most buyers. It’s the framework that all other factors are squeezed into. It is the most commonly used search filter on listing sites, and for good reason. Serious buyers are either pre-qualified or pre-approved by their chosen lending service before they start searching listings with the intention to buy. That pre-approval, as well as the buyer’s ability to repay the loan, determine how much house the buyer can reasonably shop for.
Buyers are checking addresses on Google Earth via satellite view before they schedule a viewing. They’re looking to see if the surrounding area looks safe, how the houses in the area look, and how the area looks collectively. The surrounding area of a house makes just as big of a first impression on buyers as the house itself, and many buyers will walk away from an otherwise perfect home if the neighborhood seems unsafe or unpleasant.
Dense, urban areas like Dallas, Houston, and San Antonio have more job opportunities, higher salaries, and much longer commutes. In highly populated areas, many home buyers add distance filters in relation to their offices. Morning and afternoon rush hour traffic is brutal, especially during the school year. In an effort to curtail the amount of time they spend stuck in traffic, buyers are looking for properties close to work.