IRVINE, Calif., U.S. — Americans say buying a home near their favorite coffee shop is more important than buying a home near family, according to a new study commissioned by Purplebricks.
Purplebricks Group plc, the pioneering next-generation real estate agency, recently commissioned a national study* asking Americans to share their opinions on a number of topics related to real estate.
Feedback ranged from property dealbreakers, such as crazy neighbors, to how crucial it is to live near their favorite coffee shop.
What’s that Smell?
80 percent surveyed said they would run from a property when searching for a new home if encountering issues such as seeing mold (69 percent), sensing odd smells (56 percent) or finding the home to be filthy (25 percent).
Within the study, Purplebricks also uncovered the unique compromises men and women would make when faced with house hunting woes.
No More Commission
75 percent of Americans say paying 6 percent commission is an outdated expectation. More men than women (73 percent vs. 62 percent) would do something to avoid paying this fee that comes with selling a home including:
- Giving up Netflix (33 percent vs. 27 percent) for a year
- Forfeiting social media (26 percent vs. 17 percent) for a year
- Giving up one week’s vacation (33 percent vs. 21 percent)
There Goes the Neighborhood
More men than women (28 percent vs. 22 percent) would be motivated to move from their current home if they encountered nosy neighbors. Similarly, more women than men (54 percent vs. 47 percent) would remove a potential home from their search if they felt the neighbors were crazy.
The study also found what qualities are most important when searching for a new home, as well as how people feel when disappointed by a new prospect. Findings include:
What You See is Not Always What You Get
Americans say a home for sale that doesn’t match its online photos would be more disappointing than going on a date where the person looked nothing like their profile picture (36 percent), being lied to by a best friend (21 percent) or getting stood up on a date (19 percent). In fact, 19 percent (47 million) of Americans say nothing is more disappointing than an in-person visit to a home not meeting their online expectations.
Room to Roam
45 percent say not having a backyard would make them cross a potential new home off their list.
Must Have Coffee
40 percent say the distance to their favorite locations, like coffee shops or restaurants, is crucial to consider when scouting new homes. Interestingly, 34 percent say the distance from a potential property to immediate friends and family is of utmost importance.
57 percent say wanting a different size home would instigate a new home search, with 38% looking for a larger property and 27 percent looking to downsize.
“We conducted this survey in an effort to have an even better understanding of what matters to today’s buyers and sellers,” said Jonathan Adler, Chief Marketing Officer, Purplebricks.
“It’s our job as the real estate expert to identify the needs of each client, and what really stood out to us is that buyers and sellers are tired of paying 5-6% commission. These results only reinforced that Purplebricks is exactly what consumers are wanting in today’s real estate market.”
With Purplebricks, home sellers in the U.S. only need to pay a flat fee of $3,600 to list their home and, upon closing, pay the buyer’s agent commission, which is standard in U.S. residential real estate transactions.
The flat fee is the same for homes of all values. Purplebricks agents provide a full-service offering that includes pricing and staging advice, professional photography, signage and marketing, an immersive 3D virtual tour and dedicated support through closing.
Local homebuyers can use Purplebricks’ website and mobile app to view all available property listings on the market, instantly book multiple home tours with Purplebricks agents, safely and seamlessly communicate with sellers, and negotiate offers in real-time. The flexibility afforded by Purplebricks’ online platform provides buyers with greater speed and control over the transaction 24/7.
As an added benefit, buyers who select Purplebricks to serve as their agent receive a $1,000 rebate on closing.
*Online survey conducted by Kelton Global to 1,028 nationally representative Americans ages 18 and over, with a margin of error of +/- 3.1 percent.