First-Time Home Buyers Value Affordability Above All

According to the National Association of Realtors® 2011 “Profile of Home Buyers and Sellers”, first-time home buyers are willing to compromise more than repeat buyers when it comes to space and upgrades.  While first-time buyers have wish lists too, they are most driven by finding a home that offers a reasonable monthly payment.

Overall, the top three things that buyers want are a great room instead of a formal living room, a walk-in closet in the master bedroom, and a laundry room.  First-time buyers also want the same thing, but they are more likely to be satisfied with a small laundry room without an attached mudroom and a smaller master bedroom and smaller walk-in closet.  First-time home buyers tend to rate energy efficiency high on their wish list.

One thing that first-time buyers are not willing to compromise on is buying a home that is in need of repairs.