Older Homebuyers More Picky in Selecting Houses

A new poll of recent home buyers and sellers suggests that older people are more selective home shoppers. The National Association of Realtors found that about half of people 58 and older made no compromises during their recent home purchase, compared to only 28 percent of the youngest home buyers who refused to make concessions on their ideal property. Older Americans have already owned one or two homes, know what they want, and will likely face a tougher home search as a result. The survey shows that the older a house-hunter, the newer he or she wants the home to be. Young buyers tend to focus on needs, such as enough room for their kids and a good school district; and most make trade-offs on price, lot size, distance from their job, and the style of home. | Read More