Troy Stavros, Broker and Partner with the 865 Real Estate team stated, “Even though the Knoxville real estate market may change with ebb and flow of the economy, the reasons people buy homes in Knoxville and beyond pretty much stay constant.” The following list of reasons was garnered from the research done by the National Association of REALTORS for their 2012 Profile of Home Buyers and Sellers Report. The list below starts with the most cited reason and descends in order.
Top 10 Reasons People Buy Knoxville Homes
#1 REASON: Desire To Own A Home Of My Own in Knoxville
#2 REASON: Desire For A Larger Knoxville Home
#3 REASON: Job Related Relocation or Move to Knoxville
#4 REASON: Change In Family Situation
#5 REASON: Affordability Of Knoxville Homes
#6 REASON: Desire To Be Closer To Family/Friends/Relatives in Knoxville
#7 REASON: Desire For A Â Home In A Better Area
#8 REASON: Retirement
#9 REASON: Desire For A Smaller Home in Knoxville
#10 REASON: Desire To Be Closer To Job/School/Transit
Responses varied among age and home buying experience. The report showed that younger buyers were more inclined to buy because of the desire to own a home (this reason was cited by 60% of first time home buyers), while older buyers (those in the 65 and older category) cited the desire to be closer to family and friends and retirement as the primary factors for buying.