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    Real Estate
    Thursday, May 09, 2024

    Survey: Noise and traffic most likely to dissuade buyers from a neighborhood

    Homebuyers often have to make compromises when it comes to the type of home they buy or the neighborhood they move to. However, a recent survey by the home improvement site Porch.com suggests that some neighborhood qualities are more likely than others to cause buyers to look elsewhere.

    In a survey of 1,004 American adults, 41 percent said a noisy area was a major deterrent when it came to choosing a neighborhood. Thirty-five percent said traffic was a deterrent, while 31 percent said a high crime rate would cause them to think twice about living in the neighborhood.

    One in five respondents said they would be turned off by unkempt lawns, while 17 percent said they wouldn't be impressed by homeowners associations with too many rules or neighborhoods where properties backed up to the freeway.

    Just 6 percent wouldn't like a neighborhood where boats and RVs were parked on the street or in the open, while 7 percent said they wouldn't like to see lawn ornaments at nearby homes. Eight percent said they would be turned off by garish paint colors in the neighborhood.

    The Porch.com survey focused on what Americans looked for in a new home and what drove them to move. It noted how the moving rate in the United States is at its lowest point since 1948, when the U.S. Census Bureau began tracking this data.

    Despite this trend, only 18 percent of respondents said they are unlikely to move in the next decade. Those who expect to stay put typically said they love their current home or location. Millennial respondents were most likely to say their current home is a good place to raise children, with 12 percent giving this reason.

    Home size was the most common reason for respondents' most recent relocation, with 26 percent saying they wanted a larger home. Nineteen percent said they wanted to own rather than rent, while 12 percent wanted to downsize to a smaller home. Moving to be closer to family or shorten a commute were the least likely reasons to relocate, with just 5 percent saying either factor played a part in their decision.

    Baby boomers and Generation Xers were more than 50 percent more likely than millennials to say they had moved in order to buy a home and stop renting. Millennials were 27 percent more likely than Gen Xers and 77 percent more likely than baby boomers to say they wanted to move to a larger home.

    People moving in order to buy a home and stop renting typically spent the longest time to search for their next residence, looking for a property for an average of 5.7 months. Those looking for a better neighborhood typically spent 4.7 months on the process, while those searching for a larger home looked for an average of 4.4 months.

    Other impetuses for a move seemed to necessitate a faster search. Respondents who moved because they split up with a significant other spent an average of 2.3 months looking for their next home, while those who moved because a significant other got a new job or job transfer spent an average of 2.7 months looking for a home. Respondents who moved for a job spent 3.4 months on average looking for their next home, as did those looking to move out of their parents' home or other living arrangement to set up their own household.

    Seventy-seven percent said the price of the home was an important consideration while looking for their next residence. Six out of 10 said the size of the home was a factor in their decision, while half said the home features played a part in their choice.

    However, these were also the most common factors homeowners compromised on when moving. Fifteen percent said the price of their new home wasn't what they were hoping for, while 13 percent compromised on size and 11 percent did so on features. Overall, 38 percent of respondents said they had to make compromises when choosing their next home.

    Asked what home and neighborhood features would make them feel safe, respondents were most likely to cite well-lit streets, a home security system, and regular police patrols. They were least likely to say a neighborhood watch, guard, or a neighbor with a dog would increase their sense of security.

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