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Recent Home Buyers Study: 2014

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Description

RECENT HOME BUYER SURVEY
2014


This new report provides a detailed analysis of homeowner home improvement activity since moving into either a newly built home or an existing home in the past 12-month period prior to May/June 2014.  It also includes what was done to get a previously owned home ready for sale.  In 2012, questions were added to identify respondents who may have purchased a home through a distressed sale.

Detailed findings include:
Average length of time since purchasing primary home
Rating of condition of house at move-in
Average number of home improvement projects done since moving in
Rooms/parts of home remodeled for current home
Rooms/parts of home remodeled if a previous home was owned prior to move
Rooms/parts of rooms still planning to remodel in next 1-2 years
Description of work (project types) already done or still planning to be done in current home
Description of work (project types) already done or still planning to be done for previous home
Members of household who initiated the decision for home improvement projects
already undertaken since moving in or still planned
Persons who did the work
How the person was found who did the work (if applicable)
Reasons for using a contractor rather than doing it themselves
Reasons for doing most recent work
Length of time required to complete recent project
Materials used to complete recent project
Person who purchased the materials needed
Location or type of supply source from which materials were purchased
Reasons for decision made on where to purchase materials
Total cost of recent project

Current home projects:
Length of time since recent work was done
Length of time to project completion
Expectation of having recent project done at time of purchase
Length of time for project planning
Information sources used during planning
Financing for recent project

Previous home projects:
When work was done to previous home
Perceived compensation for improvements relative to increased value
Who suggested previous work be done

Future home projects:
Time expected to begin next/second/third project
Reasons planning to use a contractor rather than doing it themselves
Budget for future projects

Current home information:
Description of current home (single family attached vs. detached)
Number of bedrooms
Number of bathrooms
Average square footage of living area
Type of heating
Reasons for choosing current home
Reasons for purchasing existing vs. newly constructed one
Reason for moving
Sources of information on how to best complete projects
Self-descriptions of homebuyers relative to their personal involvement in home improvement projects
Number of homes currently owned
Number of homes ever owned
Planned length of stay in current home
Average age of current home
Average acreage
Average home value
Life situations that occurred in year prior to purchasing current home
Homeowner demographics

Many people in the home improvement industry have long suspected that above average levels of home improvement activity occur just prior to the sale of a previously owned home as it gets readied for sale as well as in the new one moved into for the next 1-2 years out, whether it is newly constructed or a previously owned or occupied one. What this study has done is to finally confirm that suspicion and to quantify it as well. In this report you will learn differences in project types and dollar spending amounts that are particular to new construction vs. existing homes. You will quickly see that just because a person or family moves into a newly constructed home doesn't mean that nothing remains to be done to make it more livable, functional, presentable and comfortable for its new owners. This activity, taken all together, is one of the key drivers of overall home improvement product sales and should not be minimized.
With new housing starts and sales of existing homes declining quite sharply from recent record high levels, retailers as well as product manufacturers should be poised with specific marketing plans to adapt to this shift and maximize its remaining potential.

Price: $895


If you have any questions about report content, please call (813) 627-6944 or (813) 627- 6770.

If you have any questions about report ordering prior to ordering, please call (813) 627-6750.

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