Dive Brief:
- A survey of Americans found that 41% would like to buy a new home while 21% would prefer to take over an existing house, data firm Trulia says.
- However, the survey found that only 46% of people who "strongly prefer" a new house and 36% of the ones who "somewhat prefer" new construction would be willing to pay a 20% premium to get it.
- The group most eager to buy a new home and willing to pay the 20% premium is 18-to-34-year-olds, but they also are the cohort least likely to buy a newly constructed house – that demographic made up just 5.5% of new-home buyers in 2012.
Dive Insight:
Those who wanted new homes liked modern features, a chance to customize the house and lower maintenance costs. The people who liked older homes more liked traditional features, established neighborhoods and lower purchase prices.