Abstract
The limited availability of mortgages since 2008 prompted us to determine what motivates qualified homebuyers to choose the home they do. Segmenting homebuyers according to preferences related to the home, neighborhood, and schools enabled us to develop profiles of homebuyers. This study contributes to the literature by holistically explaining thematic preferences of homebuyers as delineated across four homebuyer segments. Using a web-based survey to gather a representative sample of US households, we ranked homebuyer preferences based on respondents’ most recent home-buying experience. The top-10 items, ranked by mean values, were divided by themes to create homebuyer segments, which enabled us to cross reference common and differentiable homebuyer preferences for each segment. Members in the segment most influenced by Neighborhood Quality were next most impacted by the first impression of the home’s exterior and interior, whereas those in the School Quality segment were next most impacted by the overall value they placed on their home and community. However, those in the Home-Exterior Details segment were much less influenced by the concept of overall value. As expected, those in the Home-Interior Details segment were next most impacted by the attention given to cleanliness, organization, and personal touches.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
