Did You Know: Making Compromises When Buying A Home

August 10, 2009

By T.J. Doyle, Research Marketing and Communications Manager

• When purchasing a home, many buyers consider, and perhaps reconsider, their preferences and expectations.
• For example, 19 percent of recent buyers made some compromises or lowered their expectations about the price of the home they purchased.
• A slightly smaller percentage reduced their expectations regarding the size of the home, the condition of the home, and the distance of the home from their job.
• Compromises on the size and price of the home were more frequent among urban buyers than buyers in other types of locations.
• Rural buyers more often compromised on the distance of the home from friends and family while suburban buyers more frequently reduced their expectations about lot size.
• Thirty-six percent of buyers reported that they made no compromises when purchasing their home.
• For a complete 2008 NAR Profile of Home Buyers and Sellers - available free only for REALTOR® members this year - click here.

^{Source: 2008 NAR Profile of Home Buyers and Sellers}

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