NEW YORK
(TheStreet) -- What do people really want in buying a home? First-time
buyers differ from "average" home buyers in establishing those
priorities, according to a survey from the Bank of Montreal -- and it underlines to what extent
first-timers care about work over home life.
According
to the bank, 34% of first-time buyers value a short commute to work, compared
with 28% of other homebuyers, while 28% of first-time buyers want to live near
public transit, compared with 19% of other so-called average buyers.
But
first-time buyers aren't as adamant about living in a quiet neighborhood --
only 30% say that's a big priority, compared with 43% of other homebuyers. Nor
are they really interested in having "good neighbors" -- only 21% of
first-time buyers say that's a big deal, compared with 30% of other homeowners.
In general Canadians want location, the survey says. But they
also want:
· Living on a quiet street -- 43%
· Having "good neighbors" -- 30%
· A short commute to work -- 28%
· Being near family and friends -- 25%
"Everyone
has a unique set of personal and financial priorities, so it's important that
those particular needs are considered when deciding on the right location to
purchase a home," explains Laura Parsons, a mortgage expert at BMO Bank of
Montreal. "Taking a practical approach to home buying is the key to
preventing yourself from getting 'swept away' by the bells and whistles of a house."
Do you agree with the above statistics? Is this what you are looking for in your first Lexington home?
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