Owning
a home has always been part of the American Dream. While past
generations may have been content with a more modest residence,
research shows that today's homeowners are not only deeply attached
to their homes but expect a certain quality of life from them
as well.
A
recent article appearing in Builder, a trade magazine,
provides results from a survey showing what's most critical to
people when it comes to their choice of homes and how they relate
to their lifestyle. Two findings are closely linked. One is that
over 84% of those surveyed believe "the true value of the
home is determined by the neighborhood." The other is that
just over half were more inclined to buy a resale home. What
this suggests is that buyers are strongly influenced by the location
and are willing to forego buying a new home in order to get into
an established neighborhood. Apparently the old adage "Location,
Location, Location" remains a driving force when people
decide where they want to live.
The
desire to enjoy a better way of life is also a top priority driving
today's generation to set other considerations aside in order
to get the home of their dreams.
"People
care more about whether the house provides the lifestyle they
want," states marketing consultant Pete Halter of V.R. Halter
& Associates in Atlanta. "It's a quality of life issue
that's so important that people are willing to pay, even if it
doesn't make money for them like the stock market."
Because
homeowners "feel a deep emotional attachment to their homes,"
as the article points out, buyers of resale homes and people
already residing in prime locations are more willing to obtain
the lifestyle they desire by remodeling their current residence.
These statistics ring true in the Central Florida area where
creating a "better quality of life" means taking on
projects that can involve complete wing additions that practically
double the size of the original home. When prime city space is
limited, homeowners will add entire second stories, some of which
capitalize on a great lakefront view. Other projects include
fabulous gourmet kitchens, exercise rooms, home offices, and
one of the latest trends, media rooms. The bottom line is that
homeowners are taking the measures necessary to create a pleasurable
lifestyle in their existing home.
The
most surprising outcome of the survey is the intensity of emotional
attachment homeowners feel towards their residence. Today's buyers
are carefully considering neighborhood and lifestyle when making
housing choices. Their house is not just a place to lay their
heads at night, but a sanctuary in which to retreat at the end
of the day. While home ownership has always been part of the
American Dream, today's version is distinctly different from
that of just twenty years ago.PSG
