BHGRE Emphasizes the Importance of Lifestyle in Buyer Mindset in Latest Industry Report

Better Homes and Gardens Real Estate latest market trends report, "Lifestyle Leads the Way for Today's Buyers," examines how and why lifestyle is leading buyers' decision-making when it comes to purchasing their next home. Better Homes and Gardens® Real Estate affiliated brokerage leaders and agents across the country contributed to the report, providing a first-hand account of what today's buyers are prioritizing in their home search.

According to the brokers and agents interviewed for the report, key observations included:

• Destination lifestyle markets are now more accessible than ever, thanks to the surge of Americans working from home. These markets are a reality for many working professionals, from the beach to the mountains to sought-after planned communities.

• The pandemic effects and intense market competition have redefined what a "dream home" could be. Buyers are prioritizing a lifestyle market and are willing to compromise on home features to live in their preferred location.

• Limited inventory has not been a deterrent for buyers' intent to get into the market they desire. Many out-of-market buyers are leveraging equity when selling their home to make their next house their dream home.

• Many professionals are pushing up their retirement move by a few years due to their ability to work from home until they are ready to retire.

• People are re-evaluating the function and features of their houses with the increase of time spent at home – both inside and outdoors. Inside the home, kitchens are still king, but there has been more emphasis on outside living areas featuring kitchens as well.

• With the growing demand for lifestyle locations, agents need to become familiar with larger service areas beyond their core market to help match buyers with homes.

• Current market conditions are prime for vacation and second home purchases.

"We understand that our homes are more than a structure; they are where both the big and small moments in our lives take place," said Sherry Chris, President and CEO, Better Homes and Gardens Real Estate. "Our affiliated network of brokers and real estate professionals have access to propriety tools, robust resources and dynamic lifestyle content to connect with today's home buyers and sellers every day, year after year. As homeowners across the country continue to embrace a new reality made possible by the increased ability to work from home, the importance of lifestyle will continue to be a significant factor in how consumers reimagine where they reside to live their best life."

The report is available for download here.