Beazer Homes Survey Finds ''Smart Time to Buy'' Sentiment Prevails among Experienced Homebuyers
07 2์ 2008 - 10:30PM
Business Wire
Despite all of the negative commentary about the housing and credit
markets, 64 percent of Americans believe that for those with good
credit and a down payment ๏ฟฝthis is an ideal time to buy a home,๏ฟฝ
according to a study commissioned by Beazer Homes, one of the
country๏ฟฝs top-10 homebuilders. Perhaps with an eye toward the
future, 24 percent of survey respondents ๏ฟฝ from Gen Y to Baby
Boomers ๏ฟฝ say they plan to buy a new home in the next two years
either as a primary residence or second/vacation home. For those
consumers looking to purchase a new home in 2008, Beazer is adding
further enticement with its ๏ฟฝDream Home Dollar Days๏ฟฝ savings event,
February 8 through 10. Qualified buyers can take advantage of
special incentives on move-in ready and to-be-built homes in all
Beazer Homes communities nationwide. ๏ฟฝWe know the American consumer
believes with great conviction that home ownership is a smart
investment over the long term,๏ฟฝ said Ian McCarthy, president and
CEO of Beazer Homes, one of the country's 10 largest single-family
homebuilders.๏ฟฝ๏ฟฝSavvy consumers realize that housing is a cyclical
industry and some appear to be waking up to the opportunities that
do exist in today๏ฟฝs marketplace. Whether they act on this
conviction remains to be seen, but the underlying sentiment bodes
well for the industry.๏ฟฝ Indeed, 65 percent of survey respondents
agree that given the current supply of homes for sale and special
incentives this is ๏ฟฝtruly a buyer๏ฟฝs market.๏ฟฝ And, 39 percent
believe that tentative buyers who are waiting for home prices to go
lower risk ๏ฟฝmissing out on one of the greatest home-buying markets
in recent history.๏ฟฝ As in most areas, experience brings additional
confidence. The survey found 70 percent of experienced homebuyers ๏ฟฝ
those who have purchased at least one home ๏ฟฝ urging renters to
purchase a home as soon as he or she is financially able to do so.
This sentiment seems to resonate with prospective first-time
buyers, with 30 percent citing they are ๏ฟฝlooking to make an
investment๏ฟฝ as their primary motivation for purchasing a new home.
This is followed by the desire for a better location (22 percent)
and the need for a bigger home (21 percent). Experienced buyers, on
the other hand, ranked a ๏ฟฝdesire for less maintenance and up-keep๏ฟฝ
(35 percent), better location (27 percent) and investment (14
percent) as the primary motivations for their next home purchase.
Across the board, consumers appear optimistic about the
availability of home mortgage options. For experienced buyers, 75
percent believe there are plenty of mortgage options available for
those with good credit compared with 53 percent of first-time
buyers. When it comes to securing a home mortgage, 24 percent of
total respondents report they are currently saving for a down
payment. ๏ฟฝWhile this is clearly a challenging time for the
homebuilding industry, for those who are financially grounded, we
believe it is an ideal time to buy a home. It๏ฟฝs an even better time
to buy a brand new home,๏ฟฝ said McCarthy. ๏ฟฝNow more than ever, a
newly constructed home is likely to be a much better value for
homebuyers when compared with the purchase of a re-sale home.๏ฟฝ
Benefits to purchasing a newly constructed home include more
livable floor plans, better warranties, energy-efficient systems
and options and, in many instances, the ability to personalize
certain features such as flooring, cabinetry and paint colors.
Additionally, a new home does not require the costly updates or
remodeling that can accompany the purchase of a re-sale home.
Beazer Homes surveyed 548 adults nationwide, Jan. 4-7, 2008,
between the ages of 25 to 72 with a minimum annual household income
of $40,000. MOE ๏ฟฝ 3 for all adults. Fieldwork by Fitzgerald+CO.
Beazer Homes USA Inc., headquartered in Atlanta, is one of the
country's 10 largest single-family homebuilders with operations in
21 states. Beazer Homes, a Fortune 500 company, is listed on the
New York Stock Exchange under the ticker symbol "BZH."
Beazer Homes USA (NYSE:BZH)
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