What’s more interesting is that millennials (*33%) are the group of homebuyers where their furry friends, specifically dogs, are THE driving factor when it comes to buying a home.
So, why are pets affecting the homebuying decision? There are a few reasons:
- Buying a house provides more space for your pet/pets to run and play.
- There are no more restrictions and rental fees when it comes to having a pet/pets live with you.
- Ability to customize your home based on the needs of your pet(s) – adding a fence, dog door, etc.
Furthermore, animals even impact home renovations. Nearly half of all animal owners (52% according to the NAR Animal House Report) undertook home renovations to accommodate their pet.
So, if you are/were recently a first-time homebuyer, did/will your pet(s) affect your decision to buy a home?
Sources:
National Association of Realtors 2017 Animal House: Remodeling Impact Report. Online. Website URL: https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact-animals-in-homes. Accessed May 17, 2018.
*SunTrust Survey: Mortgages Are Going to the Dogs, July 26, 2017. Online. Website URL: http://newsroom.suntrust.com/2017-07-26-SunTrust-Survey-Mortgages-Are-Going-to-the-Dogs. Accessed May 17, 2018.
