First-time buyers are tough to please

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Buyers are fickle. Just ask their agents.

In a mini-survey released last week, 150 Coldwell Banker brokers from across the nation revealed that first-time home buyers say their focus is affordability, but their expectations are unrealistic.

Move-in-ready conditions weigh heavily when searching for first homes, and as for fixer-upper homes? Most will pass, thank you.

These attitudes may stem from great expectations. For example, 71% of the brokers surveyed noted that first-time home buyers are looking for larger homes than their counterparts were 10 years ago.

‘In the past, first-time home buyers were willing to purchase older, more basic houses in an effort to save money and break into homeownership,’ explained Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate. ‘Today, this group has greater home expectations because they have grown up more accustomed to their parents’ lifestyles.’

Perhaps, or maybe it’s because today’s buyers can call the shots.

-- Lauren Beale

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