Where We Will Move

By Ryan Dosen

 

Location. It is usually the single most important thing that people consider when buying a home. The Demand Institute, a non-advocacy, non-profit organization and division of The Conference Board, says that three out of four people identify a location consideration as the driving force behind their move. The Institute recently surveyed over 10,000 households regarding their current living situation and what’s most important to them in a home and community. The results confirmed what many would suspect: that when it comes to real estate, location matters most.

The Demand Institute

The Demand Institute says that it was created to “help government and business leaders align investments with where consumer demand is headed across industries, countries and markets.” In order to achieve its purpose, the Institute regularly polls large volumes of people to gain insight as to their mindset and tendencies. This latest Institute survey was aimed at determining where America is moving.

Where Wins

“The location where I live is more important than the home itself.” When responding to this Institute question, almost half of respondents agreed, while only 20 percent disagreed. If forced to decide, only one in five Americans would choose house over lot.

Another interesting survey stat revealed that more people are looking to move farther from a city than closer to a city. Only 30 percent of current homeowners live in urban areas, creating what the Institute dubs “a suburban nation.” Suburban life looks to become even more commonplace, as only 27 percent of current homeowners think that their next home will be in an urban area. The Institute summed it up saying that “more movers indicated they will be moving farther from the city, rather than closer, in search of bigger, more affordable homes, as well as safer neighborhoods.”

Many might think that the ideal location to live would be right in the thick of things, near work and in the heart of the city. Of course, many others of us living in the Philadelphia suburbs would not agree. It seems that the general population’s definition of an ideal location would actually be a safe, quiet, well-kept neighborhood in the suburbs that is still fairly convenient to the hustle and bustle of the big city.

Walkability is Increasingly Important

Walking is good for your heart, and walkability is good for your home’s value. The Institute’s survey revealed that “more walkable communities report stronger expected home growth, compared with less walkable communities, and are also more likely to report that their quality of life has improved in the past few years.” People like to live near grocery stores, restaurants, parks, and shops. If you’re living close enough to walk to these prime places, your home is in an even more desirable location.

They’re Not Making it Anymore

The Institute says that most people live in and will continue to live in suburbs, prioritizing “space, privacy and safe streets.” Community planners would be wise to take note of the public’s demands for these important neighborhood features, as well as the need for good schools and the increasing calls for walkability.

Mark Twain famously advised us to buy land. After all, he said, “they’re not making it anymore.” A house can usually be replicated, but the land upon which it sits cannot. With more people seeking space and privacy in this increasingly interconnected and social media driven world, well-situated land should continue to see increased demand.

— Ryan Dosen manages The Wayne Megill Real Estate Team of Keller Williams Brandywine Valley in West Chester. Contact Ryan Dosen for buyer or seller representation or for more perspective on the local and national real estate market by emailing rdosen@megillhomes.com or calling 610-399-0338. Please also visit The Wayne Megill Team blog at www.PAHomesAndRealEstate.com.

 

This article was published by 21st Century Media and the Daily Local News (West Chester, PA). To read this article on the the newspaper’s site, please visit the Daily Local News.

 

 

To view all of Ryan Dosen’s 21st Century Media real estate columns, visit http://www.dailylocal.com/search?text=dosen.