Earlier this year, Bank of America released their 2021 Homebuyer Insights Report, which surveyed 2,000 current and future homeowners. Here’s a quick overview of the report’s findings:
- 51% of buyers aged 18-43, and around 33% of buyers aged 57-75, say community has become more important to them than ever
- Homeowners were more likely than non-homeowners to say they like their neighbors – 42% vs. 29%
- Homeowners were more likely than non-homeowners to say positive things about their neighborhood – 44% vs. 32%
- 47% of prospective home buyers aged 18-43 say the importance of square footage has increased for them
- 60% of prospective home buyers aged 18-43 are putting more weight on outdoor space
- Respondents aged 18-43 say their home is now used as:
- an office (45%)
- a school (31%)
- a movie theater (28%)
- a gym (27%)
- Respondents aged 18-43 expressed more desire for new technology in their homes:
- smart or Wi-Fi-enabled security systems (51%)
- solar energy products (42%)
- smart or Wi-Fi-enabled appliances (44%)
Read the full report here.