What do Vancouver Homebuyers Want?

In the hot, competitive Vancouver housing market, it helps to know what your target market is after- and to make sure that you are delivering on it.

Is there such a thing as a “dream house”? Homebuyers realize that perhaps some concessions need to be made in order to get what they want.   A recent survey sponsored by REW.ca suggests that there are certain elements that buyers in Vancouver’s Lower Mainland are willing to compromise on.

Topping the list as the most important factor- as well as one that they were least willing to compromise on was a “livability factor.”  The survey found that “Close” is the word that sums up what respondents want in a location, with 41% of home buyers and sellers selecting “close to amenities” and 33% saying “close to family/friends”. “Close to work/lessened commute time” came third, with acceptable commute times averaging 30 minutes.”

Many also indicated that the style of their home was an influencing factor, but many (44%) indicated that this was something that they would be willing to compromise on.

“What this tells us is that people in Vancouver Lower Mainland communities want a certain style of home but in reality they are willing to compromise on this for liveability factors such as living close to amenities with lower commute times,” says Ian Martin, General Manager, REW.ca.

When asked what factors, other than liveability, helped homebuyers select location, respondents said being close to amenities such as shops, grocery stores, medical facilities (41%); close to family/friends (33%); close to work/lessened commute time (22%); close to public transit (19%); safety/less crime (16%. 15% of respondents said that they favoured being close to parks and green space and/or water.

Assuming that price was no object, factors that influenced homebuyers on selecting homes themselves, included the size of the home, style and number of bedrooms

 

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