- Safety is the top priority for 78% of U.S. homebuyers, Redfin reported on Wednesday.
- More than 1 in 5 homebuyers, however, said they'd be willing to trade safety for affordability.
- One-half also said they'd also trade off things like distances to grocery stores, commute time, etc.
SALT LAKE CITY — What tops the list of must-haves for homebuyers?
It's not the size of a house, a specific number of bedrooms or bathrooms, the quality of nearby schools or commute time to a workplace.
No, it's personal safety that was ranked by 78% of buyers as their top priority when shopping for a new home, according to the results of a nationwide poll for Redfin, a Seattle-based online brokerage.
Two other safety-related nonnegotiables rank No. 2 and No. 3 on the list: 74% want to live in an area with a low crime rate, and 68% want their next home to be someplace at a low risk of a natural or climate disaster.
But even though safety is key to homebuyers, so is finding a home that's affordable.
More than 1 in 5 homebuyers, 22%, said they'd be willing to trade off personal safety as a must-have for affordability. Even more, 27%, were willing to compromise when it comes to living in a low crime rate area, while nearly one-third, 32%, would accept a higher disaster risk.
The May poll asked respondents who said they're planning to buy a home within the next 12 months to choose whether each listed feature was a must-have or something they'd be "willing to compromise to afford a home."
As many as one-half of those surveyed said they'd be ready to give up features like proximity to grocery stores, number of bedrooms and bathrooms, square footage, yard space, room to work from home, commute time and being close to health care providers.
And a majority were prepared to do without other features on the list, including being close to restaurants, bars and coffee shops; access to transit; highly rated schools; neighborhood diversity; shared political views; or being around people who "look like me."
The results reflect a housing market that remains out of reach for many Americans, even as mortgage rates have fallen and home prices are no longer climbing as quickly and even dropping slightly in some places.
"Prices are starting to come down, but buyers — especially first-timers — are still battling with affordability," Katie Shook, a Redfin real estate agent in Phoenix, said in a Wednesday post on the company's website.
That means buyers are focused on finding "a home that fits their practical needs. They're looking for a bedroom for every kid, space to work from home or an easy commute, things like that," Shook said.
"Some more luxurious features, like a fully finished backyard with a pool or a recently renovated kitchen, aren't as valuable to buyers as they used to be," she said. "People might want those things, but they aren't willing to — or can't — pay more for them."
