A recent survey conducted by Harris Poll and released by SunTrust Mortgage found that “55% of homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their offspring played a major role in their home buying decision.”
When the results were broken down by the parent’s age, millennials (those 18-36) led the way. 74% of homeowners saying that their child’s opinion was a factor in choosing which home to buy. Eighty-three percent of renters believe that their child’s opinion would be a deciding factor when looking to purchase a home.
What do kids want?
Coming in at 57%, it should come as no surprise that gaining their own bedrooms was the top most-desirable feature of any home for kids, followed by a large backyard to play in at 34%. Todd Chamberlain, Head of Mortgage Banking at SunTrust explained the reasoning behind the survey,
“As a parent of two kids, I know from experience that including children in the home buying process is not only fun for the whole family, but also educational for our homebuyers of tomorrow.”
What do parents want?
When you start having kids, it makes sense that buying priorities change. You can forgive a lot about a home if the character, location, and vibes are right. When you have little ones, however, those quirks can become deal breakers.
There are ways to compromise to ensure both parents and kids are happy. This takes some work on the seller’s end, but with a little bit of thought and pointed emphasis on their home’s kid-friendly qualities, sellers could see themselves ahead with family buyers.
If you’re thinking about selling your home this year, make sure to highlight all of the kid-friendly features it has to offer. We can help you with this! Contact us today for a free consultation.