Mike Thomas: Retail options, parks key for homebuyers

For many buyers, a new home might be located in a new community. The area you live in can make a big difference in your quality of life. Finding a community that fits your family’s lifestyle and needs is just as important of a factor as the square footage and number of bedrooms. Do you wonder if other home buyers are looking for the same things in a new community?

A recent survey from the National Association of Home Builders reveals what home buyers are looking for when house hunting. The survey asked both first-time buyers and existing homeowners about the features and amenities buyers want in their home and also about the type of community that they would like to reside in.

A majority (70%) of buyers want to be close to retail space, like a grocery store or pharmacy. With busy lives, living near a store where you can easily pick up dinner or necessities, is a valuable convenience. In addition to saving time, nearby retail can also save home owners money.  According to the most recent Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics, spending on gas increased 45% year over year, a reflection of rising gas prices and Americans traveling more after the pandemic.

Other important community amenities that buyers place a value on are related to spending time outdoors. Two-thirds of buyers (66%) want to live near a park area or live in a community with walking/jogging trails (66%). Spending time outdoors, even something as simple as a walk around the neighborhood, is a well-known past time. According to the National Recreation and Park Association, more than half of all adults (58%) spend more than 30 minutes outside a day. Spending time outside and exposure to green spaces has shown to improve mental and physical health.

In terms of the overall location where buyers would prefer to purchase a home, more than half (53%) want to buy in the suburbs. Only a quarter of buyers (25%) prefer to purchase a home in a rural area and fewer in the central city. The study also asked buyers about the farthest distance they are willing to travel one-way from home to work.  For the typical buyer, the sweet spot is 11.3 miles—which is not surprising given that most buyers reported a desire to live in the suburbs.

To get started on finding a community that is the right fit for your family, visit www.biastarkeco.com today or contact us for list of builders, remodelers and suppliers at 330-494-5700.

Mike Thomas is 2024 president of the Building Industry Association of Stark & East Central Ohio.

This article originally appeared on The Repository: Retail options, local parks key for new homebuyers