FOR IMMEDIATE RELEASE: Data Shows 1 in 5 Families Willing to Bare Longer Commutes, in Exchange for Location and Size
MCLEAN, VA (June 20, 2018) – Miller & Smith, the Washington region’s most award-winning homebuilder, released a study today that reveals the factors D.C. residents consider when purchasing new homes. The study suggests that while families continue to opt to live in the Metro D.C. area despite changing priorities and needs based on life stages, they often choose to move further out into areas of Virginia/Maryland to accommodate these needs.
“It’s so important as a homebuilder to stay on top of the ‘must have’ and ‘nice to have’ features that are most important to our customers.” Says Kim Ambrose, VP of Marketing for Miller & Smith. “We take this information very seriously since we are a design driven builder that rarely builds the same home twice. We’re always changing and innovating not only our floorplans but also the finishes and features. This study will help shape the homes we’ll be offering in the future.”
Miller & Smith conducted the study over a twelve-week period during its “One Visit Experience” road show in early 2018. More than 100 respondents from the Virginia/MD area provided their opinions on everything from what they look for most when buying a home to what they expect to gain from moving into a new home. Many respondents expressed a desire for an open concept floorplan with upscale features like modern kitchens not found in the regions older housing stock.
The full survey breakdown provides a detailed view of homebuyer perspectives:
Location and Size Are the Two Things Homebuyers Look for Most
- 40% of homebuyers say the location of the home they’re buying is the most important factor.
- 20% of homebuyers say the size of the home they’re buying is the most important factor
A New Home Creates Better Memories and Feelings
- 40% also say a new home will allow them to create better memories with their families or will cause them to feel better in life – either they’ll feel more peaceful, more settled, or more pride in themselves.
Open Concept, Modern Homes Remain All the Rage
- 34% of homebuyers said open concept homes are their favorite trend
- Almost one in five said modern kitchens – with islands or conservatory style – are their favorite home trend
Life Stage Plays a Major Role in the Decision to Buy
- Almost 20% of homebuyers are looking to move to a new home because of their age/stage of life.
- Birth of children have been a longtime driver of marriages and moving to a new home. But now the aging baby boomers are a strong reason why 15% of homebuyers today are downsizing.
Children Are the First Considered Factors
- 17% look at school systems first when considering a new home.
- 16% look at the layout and cleanliness of the neighborhood first when considering a new home.
About Miller & Smith:
Founded in 1964, Miller & Smith has been one of the Washington area’s top privately owned buildings and development firms for over 50 years. Active in both residential and commercial real estate, the company has earned a reputation for creating innovative and imaginative homes and communities. In 2017, Miller & Smith sold 113 single-family home and 185 townhomes. Miller & Smith has built 6,100+ single-family homes, nearly 9,400 townhomes and 2,200+ condominiums, and has developed approximately 13,770 homesites in 130 communities throughout Maryland, Virginia and Delaware. The company is headquartered in McLean, Virginia. For more information click here or follow Miller & Smith on Facebook, Twitter and YouTube.