Fun Real Estate Facts: Study Reveals Home Ownership Dream

Whether you are buying or selling a home in Connecticut, you can learn a lot by looking at the fun real estate facts revealed in a study on housing and homeownership. According to a survey by Trulia.com, home ownership dreams differ depending if you are a millennial in the 18 to 34 age category, a member of Generation X age 35 to 54 or a baby boomers 55 and older. By knowing who is in the market for a new home and when people plan to buy a home, you can make better educated decisions about the listing price, timing and targeted home improvements. According to the survey, 40 percent of baby boomers, 77 percent of Gen-Xers and 89 percent of millennials who currently rent plan to buy a primary residence.

Staging for people with children

If you are trying to sell a home in Connecticut, it’s a good idea to stage the home as a family friendly house. According to the Trulia.com survey, most people buy homes when they have children under the age of 18 living at home. Some ideas for creating a family friendly home even if you are single or married without children include setting up a playroom, decorating bedrooms for children and creating an outdoor play area.

Timing your home purchase

If you are hoping to buy a home in Connecticut, it is an excellent time. The survey showed other fun real estate facts such as the fact that 4 percent of millennials want to buy a home within 6 months; 7 percent plan to buy within 7 to 12 months while 17 percent want to buy within 13 to 24 months. Because interest rates will likely rise, it pays to lock in on a lower rate while also getting ahead of the home buying wave that will likely push up home prices.

Choosing an architectural style

The survey revealed the different architectural style of homes that people prefer. Members of Generation X and millennials like the modern home best, while baby boomers prefer the ranch style home. Three perfect of people want a penthouse apartment, while 2 percent want to live in a converted loft. Some of the most popular styles of home include farmhouse, Victorian, Craftsman, Plantation and Colonial as well as the ranch and modern styles.

Other fun real estate facts relate to the size of a home and the features. Those surveyed prefer homes more than 1,400 square feet but less than 2,600 square feet. Easterners prefer living in the suburbs. Favorite amenities include decks, gourmet kitchens, open floor plan and balcony. For more information on Connecticut real estate and fun facts, please contact us.

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Michelle Manter Giglietti

Owner~Realtor at Manter Realty Group of Keller Williams
Top Producing Realtor and recognized blogger. In her free time you can hear her screaming fore at the local golf course,or catch her at home enjoying fresh cooking and a glass of wine with her husband and favorite 6 pound Morkie named Pedro.
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