PSYCHOLOGY OF BUYING A HOME

Conducted by International Communications Research (ICR), a leading third-party research company, the findings from the Coldwell Banker Survey include the following highlights:
Quality, “Feel”and First Impression of Home Matter
More than three out of every four respondents (78 percent) felt that the quality of a home is more important than square footage.
The majority of respondents (60 percent) also said that the “feel” of a home is as important as its price.
12 percent of respondents knew their house was “the one” even before stepping inside. After visiting just once, that figure rose to 51 percent.

“While some buyers begin the process with a list of “must-haves,” this data demonstrates how intangible impressions like “quality” and “feel” factor heavily into the home decision-making process,” said Dr. Peters. “In fact, some people even experience ’love at first sight’ when it comes to their homes, which means one cannot overstate the importance of a strong first impression. And price isn’t all that matters – as opposed to investing and then hoping for an overnight return, consumers recognize that a home must have the right ‘feel’ for their everyday lifestyles.”

Buyers Prefer Security, Nurturing and Cozy Spaces Over More Abstract Ideals
51 percent of respondents said that, “A home should be a space that feels safe and secure,” while an additional 16 percent felt it should be “full of warm, cozy spaces where I can curl up.” Taken together, these responses heavily outweighed those who felt a home should be a “refuge to get away from it all” (13 percent), “open to nature with great views (12 percent),” or “a space that feels airy and light (6 percent).”
58 percent of respondents agreed with the statement, “My home is a place to shelter and nurture my family.” The next most popular response was, “My home is a place to escape from the pressures of daily life,” which 19 percent of respondents agreed with.

“Lovely views and lots of light are nice to have,” said Dr. Peters, “but these results underscore that first and foremost, a house becomes a home when it feels comfortable and safe for the family that resides there. Now more than ever, consumers are probably more inclined to choose security over special add-ons like lofty views or an airy atmosphere.”