Survey: Most Parents Consult Kids on Homebuying

May 22, 2018

When it comes to future homeownership, the biggest influencers on potential buyers might be their children.

In a new Harris Poll conducted on behalf of SunTrust Mortgage, 55 percent of homeowners with a child under the age of 18 at the time of home purchase said their child’s opinion played a role in the purchasing decision. For Millennial parents, the influence of children was 74 percent.

What are the selling perks to pique a kid’s interest in a new home? The survey found the top requests included their own bedrooms (57 percent); large backyards (34 percent); proximity to parks/activities (25 percent), schools (24 percent), friends (24 percent); and swimming pools (21 percent). And among renters with children under the age of 18, 83 percent of respondents said the opinion of their children will play a key role in the move to homeownership.

“As a parent of two kids, I know from experience that including children in the homebuying process is not only fun for the whole family, but also educational for our homebuyers of tomorrow,” said Todd Chamberlain, Head of Mortgage Banking at SunTrust.

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Phil Hall

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May 22, 2018

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