Nearly 20% of Denver Locals Are Looking to Move Out of the City, New Housing Priority Study Reveals
This study, completed alongside several research experts, surveyed 500 Denver residents to uncover top priorities regarding their current homes and future homes.
DENVER, September 21, 2023 (Newswire.com) - Paint Denver, a trusted local painting company with over a decade of experience, has some intriguing findings as a result of their "Denver Housing Priorities Study". This study, completed alongside several research experts, surveyed 500 Denver residents to uncover top priorities regarding their current homes and future homes.
“With the housing market behaving as it has for this past year, it’s more important than ever to take the time to understand the driving factors behind Denver buyers and sellers’ decisions,” says Rob Peterson, CEO of Paint Denver. “Equipped with the findings we collected, I’m confident homeowners and real estate professionals alike will be able to better navigate the Denver housing market.”
One of the most poignant findings this study revealed was that a modern kitchen is the most sought-after feature by home shoppers, closely followed by fresh interior paint and a fenced yard. On the other hand, current homeowners are looking for something a bit different in their current homes: central air. In fact, 47 percent of respondents reported they would love central air in their homes.
Moreover, an impressive 95 percent of homebuyers favored move-in ready homes, with 40 percent of them considering it highly desirable to find a home they can move into right away. Sixty-four percent of respondents are even willing to pay extra (about $34,000 extra, on average) for homes with their desired amenities.
In addition, location plays a key role in the decision-making process, with a whopping 85 percent of respondents having specific neighborhoods in mind during their home search. Factors like home prices, cost of living, and commute times most greatly influence these choices. Furthermore, while 44 percent of respondents still preferred living in Denver’s city center, 18 percent were looking to move out of Denver altogether.
Overall, Paint Denver’s “Denver Housing Priorities Case Study” illustrates one thing: Denver homebuyers are willing to invest in homes they don’t have to renovate themselves. Utilizing the data collected in this study, sellers in Denver will have a leg up before entering the market. Furthermore, real estate professionals will be able to better assist their clients with finding the right properties for them.
Source: Paint Denver