Wednesday, May 18, 2011

Reduce the family 'fuel budget'- Consider moving

In this press release, out by David Siroty of Coldwell Banker Real Estate, the survey shows home buyers' choices in where they decide to live are largely impacted by the recent spike in gas prices. 

As a home buyer or as a buyer's agent currently in the market, are you finding yourself or your home buyers skewed toward purchasing a home that is closer to work and other everyday activities, or a home that will be large enough to work out of in order to save money normally spent on fuel to commute?

Urban Living in Winston-Salem, NC

As a buyer, perhaps you have said, ‘Enough is enough!’ and just recently put yourself in the ‘buyer’s market’ primarily because of recent gas hikes, despite them being 
consistently high. 

The agents report 75% home buyers state the recent increase in gas prices influence their decision in where they choose to live. They have a desire to be close to work, or to work from home, as well as an increased interest in urban living.

Ninety-three percent of the surveyed real estate professionals state if gas prices continue in this direction, more buyers will choose to live closer to their work. 

Jim Gillespie, President & CEO
Coldwell Banker Real Estate
“The decision to buy a home has always been tailored around the personal, multi-faceted lifestyle needs of each buyer,” according to Jim Gillespie, CEO of Coldwell Banker Real Estate. “Today, rising fuel costs and a person’s decision to commute or perhaps work remotely are additional factors of the decision home buyers must consider.”

After scrimping for months or years while the cost of gas continues to rise, do you ask yourself how you can possibly create a surplus out of a deficit to cover what goes out of the ‘other necessities budget’ and funnels into the family ‘fuel budget?’

Consider moving. Are you among the 93 percent?