The talk these days in real estate circles usually focuses on first-time buyers. But what about homeowners that are looking for their second house?
The Wall Street Journal published a piece in Friday’s paper that pegs the age that homeowners want to start looking for a larger place at 35. In 2012, the 35 to 44-year-old age group saw the largest jump in home purchases among all age groups.
From the article:
Homeowners in the move-up group are typically looking to stay in their home for 10 to 15 years, compared with the three to five years for starter homes. “They’re looking at the market and saying, ‘The house I bought 10 years ago is not my dream home. I have a bigger family and now I can sell,’ “ says John T. Altman, a real-estate broker in San Diego.
While the number of move-up buyers increased notably, young, presumably first-timers made up the majority of purchasers — 45 percent of buyers in 2012 were between the ages of 25-34.
This article originally published at http://dc.urbanturf.com/articles/blog/35_the_magic_age_of_the_move-up_buyer/6475
Most Popular... This Week • Last 30 Days • Ever
Here's what you need to know about reporting profit made from the sale of your home.... read »
A final look for the year at the DC neighborhoods where home values rose the most thi... read »
Residential development in this jurisdiction-straddling neighborhood got a major kick... read »
With two additional museums authorized as part of the Smithsonian system, a forthcomi... read »
Another hotel in the DC area will bite the dust to make way for the new development.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
A Tysons development has the area's five tallest buildings on the boards.... read »
Homeowners will be able to expedite the ADU approval process with two options for one... read »
A rezoning may be in the works for the AutoZone site.... read »
The priciest condo to ever sell in DC just closed last week, nearly a month after the... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro