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Kids have big say in real estate decisions

Posted by Editor on May 25, 2018
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The opinion of homebuyers’ children has a big sway in real estate decisions.

According to a survey of more than 2,000 adults, 55 percent of homeowners said that their children under the age of 18 had an influence on which home they bought, according to a Harris Poll Survey commissioned by SunTrust Mortgage.

Millennial parents allowed their offspring to have an even greater influence: 74 percent of millennial parents between the ages of 18 and 36 reported their children’s desires weighed on their decision. In addition, 83 percent of renters said the opinion of their children will be a factor in which home to buy when the time comes, the survey finds.

The top requests of children include:

Their own bedroom (57 percent)
A large backyard (34 percent)
Proximity to parks and activities (25 percent)
Close to schools (24 percent)
Close to friends (24 percent)
A swimming pool (21 percent)
“As a parent of two kids, I know from experience that including children in the home buying process is not only fun for the whole family but also educational for our home buyers of tomorrow,” says Todd Chamberlain, head of Mortgage Banking at SunTrust.

Source: SunTrust Mortgage

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