Location, Location, Location: New Survey Reveals Top Neighborhood Priorities
North American Precis Syndicate
Many home buyers believe the road to their dream house starts in a neighborhood that suits their style. (NAPS)
(NAPSI)—Anyone who’s watched popular house-hunting shows knows
such features as walk-in closets and multiple bathrooms are repeatedly named “must-haves”
by home buyers.
It turns out, however, the old adage “location,
location, location” is as true as ever when it comes to what homeowners
In fact, according to the latest independent survey from Ally Home, the
direct-to-consumer mortgage unit of Ally Financial Inc., the feel of a
community, its “vibe,” is a critical component for home buyers.
Fully 88 percent of Americans surveyed said a neighborhood’s vibe plays
an important role in deciding where to live—and nearly half say it’s
“The home-buying process can feel overwhelming at times, and it can
be easy to lose sight of the important factors,” said Diane Morais, President of Consumer & Commercial Banking
Products at Ally Bank. “If consumers think ahead of time about the
characteristics of their ideal neighborhood—whether it’s an area
with a close-knit community, a place that’s walkable
to stores or restaurants, or even a neighborhood with strong cell phone
coverage—it can help put them in a stronger position to find that
Sure, a home’s price and its physical location are important
considerations. But as a homeowner, it’s essential that your tastes and
lifestyle align with those of your community. The survey found four out of
five Americans agreed. Nearly three-quarters would be willing to settle for a
smaller house or pay a little more than originally intended to reside in
their perfect neighborhood.
So what are the characteristics that comprise the ideal neighborhood vibe?
Millennials make up more than a third of today’s
home buyers, according to the National Association of Realtors’ 2018
Home Buyer and Seller Generational Trends Report. Almost 30 percent of millennials seek a modern community where they can walk
to everything, including reasonably priced bars, restaurants and coffee
Millennials are even willing to swap curb appeal
for great schools nearby for their kids (or future families) and strong
Internet and cell phone service so they can stream their favorite shows
without buffering interruptions. And, despite their reputation, millennials’ ideal community doesn’t need to
include an organic market or a juice press.
Home buyers of all ages are attracted to pleasant locales, with 36 percent
of respondents interested in a safe community with friendly people. Another
21 percent prefer a family-centric neighborhood vibe, where families live in
close proximity to one another and socialize frequently as a community.
Perhaps surprisingly, while Americans like their cultural centers, they’re
not neighborhood must-haves for most. The survey found just
15 percent are interested in having cultural attractions such as
museums, historical sites, or theaters nearby. And less than 10 percent
prioritize a great selection of retail shops and an upscale urban setting.
to take a short quiz to reveal your personal neighborhood vibe.
For further facts on home buying, go to www.ally.com.
“An independent survey from Ally Home, the
direct-to-consumer mortgage unit of Ally Financial Inc., found a
community’s “vibe” is a critical component for home buyers.
On the Net:North American Precis Syndicate, Inc.(NAPSI)