Monday, April 9, 2012

Women VS Men - Home-Buying Decisions

Coldwell Banker® recently published a survey about how men and women differ in their home buying decisions.  Here are the results:

Coldwell Banker Survey Finds Women and Men Make Home-Buying Decisions with Head and Heart
PARSIPPANY, N.J. (March 27, 2012) – Square-footage and price are important elements to consider when selecting a home but according to a new survey from Coldwell Banker Real Estate of 1,000 men and women, they both also rely on how they feel and how their lifestyle fits into a home when looking for a place to live. The survey found 28 percent of women and 25 percent of men put more emphasis on their feelings about a home than they do on the layout, square footage, or price. The majority of women (62 percent) and men (61 percent) also know within the first visit if the home is right for them.

“A home is more than square-footage and the number of bedrooms and bathrooms, and this survey shows just how much emotion can play a role in home buying process,” says Jessica Edwards, Coldwell Banker Real Estate consumer specialist. “When two people are looking for a home together, there are many considerations to take into account.  Of course, price and layout matter, but ‘feeling at home’ is an important factor.”

The survey also reveals insights into the roles men and women play at home and finds some interesting differences between age groups. 
Women Take Charge of Making a House a Home:
  • Over half of women (54 percent) say that they take the lead when it comes to decorating.  However, younger men play a larger role in décor decisions than their older counterparts. Forty-eight (48) percent of younger respondents, age 18-44, say decorating is mutual; this decreases to 36 percent for respondents 55 and over.
  • Women also cook it up in the kitchen. Sixty-eight (68) percent of women say they are the “primary chef” for their household.  Not to be outdone, some men are also putting on the apron – occasionally.  Nearly a quarter of men (23 percent) say cooking is their job.
Age Changes How Men and Women Feel “At Home”
  • Sharing financial decisions may get easier over time. Fifty-four (54) percent of people age 18-44 say major financial decisions are mutual, compared to 60 percent of those 45-54. This increases to 70 percent for people 55 and over.
  •  Interestingly, as age increases, so does contentment with the current status of the home. Almost half (45 percent) of those older than 55 say they are very happy with their home just the way it is, compared to 25 percent of those age 18-44.  More men seem to be focused on making significant changes to the home (9 percent) compared to women (5 percent).

Check out this video from Coldwell Banker highlighting tips for both men and women for buying a home.

    For couples entering the home-buying process, here are Edwards’ tips for harmonious house-hunting:

    • Each person should come up with a list of a few things that are most important and then come together as a couple to decide on a list of the top three to five things that are important for the home. 
    • When looking for a home, communication is key. Consider designating a point person for different aspects of the home-buying process, so that information is not delayed or communicated to just one part of the couple.
    • Don’t get too many people involved; typically more people means more stress and what is most important is that the couple is happy with the decisions being made.
    • Don’t forget to have fun! Remember that this home will be the place to build memories and a life together.
    What has motivated you in your home buying decisions? Whether you are a head or heart person, make sure you are represented by an experienced licensed REALTOR®. 

    When the going gets "Tough"...just call me.
    Susan Tough

    For more information please visit 
    Survey Methodology: Coldwell Banker Real Estate engaged SSRS to conduct an omnibus survey via telephone in February 2012, among more than 1,000 respondents. This study was conducted in SSRS’s EXCEL Omnibus. EXCEL is a national, weekly telephone omnibus service designed to meet the standards of quality associated with custom research studies. The EXCEL survey consists of a standard set of introductory and demographic questions supplemented by a changing series of questions on various topics as contracted by participating companies.
    Sample Design: Each EXCEL survey consists of 1,000 interviews, with 50% men and 50% women.EXCEL uses a fully-replicated, stratified, single-stage random-digit-dialing (RDD) sample of telephone households. Sample telephone numbers are computer-generated and loaded into on-line sample files accessed directly by the CRT system. Within each sample household, one adult respondent is randomly selected using a computerized procedure based on the “Most Recent Birthday Method”. Respondents answering questions in an EXCEL insert specifically designed for this survey were 1014 men and women ages 18 and older.
    Margin of Error: Because this is a sample, and not an actual population, an associated margin of error applies. At a 95% level of confidence, the margin of error for this sample of 1014 is +/- 3.08%. This essentially means that we can be 95% certain that, for any percentage result for the total sample, the “true” percentage is within 3.08 percentage points of that which is actually reported.
    Significant Differences: Within this report, significant differences are reported at the 95% level of confidence.

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