Aug. 21, 2008 - Study shows first time buyers’ wants are in conflict

Buyers search for low price and move-in condition

Reported by MarketWatch today, first time home buyers still consider affordability as the top priority.  However, 81% also regard the move in condition to be highly important.  In short, they want it all.

It is believed this group’s expectations stem from growing up in the lifestyle of their parents; with only 7% considering the option of purchasing a fixer-upper.  The expectations may be too high for buying power of a first time buyer.

In not considering a home needing a little tender lovin' care (TLC), buyers could miss the chance to move into an area otherwise that would be out of reach.  Buyers could gain greater room for price negotiation.  And they might be able to finance the cost of the home and renovation costs over the life of the mortgage loan.

Other findings show that compared with ten years ago, first time buyers are looking for larger homes, proximity to the job is paramount, they see a home purchase as an investment and first time buyers look at five to ten homes before buying,

For the complete article, go to:  MarketWatch.com