Everybody Loves...In-Laws???

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EVERYBODY LOVES…IN-LAWS? COLDWELL BANKER REAL ESTATE SURVEY: 72 PERCENT OF PARENTS LIVE WITHIN 30 MINUTES OF EXTENDED FAMILY

PARSIPPANY, N.J. (August 26, 2010) – Although everyone has heard the phrase “too close for comfort,” that idea may no longer apply to families – people who live far away from relatives are in the minority, according to a new consumer survey of parents released today by Coldwell Banker Real Estate LLC.  

Omnibus survey results collected from a nationwide survey of homeowners who are parents revealed that 72 percent choose to live within 30 minutes of extended family members – and close to half (42 percent) live less than 10 minutes away. 

The survey also uncovered that most parents (65 percent) planned ahead and purchased their first home before getting pregnant or within one year of their child’s birth. 

 “Our survey confirms that people buy and sell houses around life’s most important milestones, which includes welcoming a family’s first child,” said Diann Patton, a Coldwell Banker® real estate consumer specialist. “Not only are parents planning ahead when it comes to buying a home, they are very excited to live near relatives who will help along the way.” 

Patton offers the following tips for home buyers who are parents or expecting parents:

1. Change your criteria. “Often, what matters in a bachelor pad or a couple’s first home is different than what’s best for a growing family,” Patton says. “Speak to a trusted real estate professional and other parents about the importance of bedroom layouts, land surrounding the property, proximity to major streets and more. Determining your priorities and ‘must-have’ criteria upfront will make your search more efficient.”

2. Make the new neighborhood more fun. “If your children are anxious about moving, make a special trip by taking them to the playground in your new neighborhood if it’s possible. This will allow them to get more excited about their future home.”

3. Calculate your budget carefully. “Remember, a new addition to your family usually means additional expenses each month. Try to estimate your monthly expenditures as well as your future mortgage payment so you are aware and comfortable with your financial commitments.”

 

* Methodology: Coldwell Banker Real Estate LLC engaged International Communications Research (ICR) to conduct an omnibus survey via telephone during July and August, 2010, among more than 850 United States homeowners who are parents / guardians of children under the age of 18.