About 88 percent will use a real estate agent and do plenty of research before they buy their new home. The buying process usually takes at least nine months and buyers are looking to stay in their new homes for at least 15 years after buying.
Because homes in the Charlotte area are at an affordable price, most buyers are looking for an upgrade. However, Charlotte buyers seem to prefer older homes to new construction, with approximately 13 percent looking for a brand-new home. Of those who do, quality of construction is a major factor in purchasing a newly built home.
As a Charlotte homebuyer, how do you stack up? Check out our graphic to see where you stand. Graphic won’t load? Here’s what you missed:
The Most Important Qualities to Look for in a Home
- Quality of construction
- Safer neighborhood
- Better floor plans
- Larger yard or lot
- More living space
New Versus Used
- 13 percent of Charlotte-area home shoppers prefer newly built homes.
- 45 percent of Charlotte-area home shoppers prefer used homes.
- 43 percent of Charlotte-area home shoppers are indifferent.
Why Buy a House?
- Favorable interest rates
- Increase in income
- Favorable home prices
Time Frame When Searching for a New Home
- The majority of buyers (45 percent) search between 9 and 12 months.
- 23 percent of buyers spend 6 to 9 months looking for a home.
- 8 percent of Charlotte-area homebuyers spend 3 to 6 months searching for a home.
- 5 percent of home shoppers find a home in less than 3 months.
Local Housing Stats
- The average Charlotte home was built in 1988.
- The average Charlotte homeowner will stay in their home for 15 years.
- Charlotte home shoppers are 38 percent more receptive to newly built homes than the national average.
- About 88 percent of home shoppers in the Charlotte area will use a real estate agent.