Survey Reveals 60% of Lifestyle Community Buyers Plan to Pay Cash for Their Next Home

New data from Private Communities Registry, Inc. (PCR) reveals the majority of active adult homebuyers plan to pay cash for their next home.

VERO BEACH, FL, UNITED STATES, September 4, 2024 /EINPresswire.com/ — New data from Private Communities Registry, Inc. (PCR) reveals that 60% of prospective homebuyers in master-planned lifestyle communities plan to pay cash for their next home. This finding is part of the 2024 Survey of Homebuyers & Renters Researching Lifestyle Communities Report, an annual study that sheds light on the behavior, motivations, and financial situations of retirees and pre-retirees seeking not just a home but an enhanced lifestyle.

Key Findings from the 2024 Survey Report
Each year, PCR surveys individuals interested in purchasing or renting in master-planned lifestyle communities. The comprehensive annual report, which includes responses from over 1,500 visitors to PrivateCommunities.com who completed the survey earlier this year, offers critical insights for builders, developers, and real estate companies. With nearly 1 million annual users, PCR’s data provides a significant overview of the current market trends and buyer intentions in the lifestyle community sector.

According to the survey, a significant 60% of respondents are poised to skip the mortgage process altogether and pay cash for their next home. This trend is particularly noteworthy in today’s real estate market, where many buyers are increasingly prioritizing financial flexibility and avoiding debt.

Lifestyle Communities: A Preferred Choice for Buyers
The report underscores the growing appeal of master-planned lifestyle communities, particularly among age-qualified buyers, mostly retirees and pre-retirees aged 45-65. Sixty percent of survey respondents expressed a preference for purchasing a home rather than renting, though 36% remained undecided—an indication that many are still in the early stages of their search. Interestingly, nearly a quarter of these buyers intend to own more than one residence, underscoring the appeal of these communities as ideal locations for second homes and vacation properties.

For the first time in the survey’s history, over half of the respondents (52%) reported having a budget of $500,000 to $1 million+ for their next home, while the remaining 48% are seeking homes under $500,000. This budget distribution highlights the willingness of lifestyle community buyers to invest in premium properties that offer resort-style amenities and a fulfilling lifestyle.

Why Cash Buyers Matter in Today’s Market
Ben Keal, Director of Operations at PCR, emphasized the significance of these findings: “The fact that 60% of buyers are planning to pay cash for their next home is a powerful indicator of their confidence in the market and their commitment to securing their ideal lifestyle. In today’s housing market, where interest rates and financing conditions can be unpredictable, the ability to pay cash offers these buyers a competitive advantage. It also signals a strong preference for financial stability and long-term investment in communities that offer the amenities and lifestyle they desire.”

A Resource for Builders, Developers, and Real Estate Companies
The 2024 Survey of Homebuyers & Renters Researching Lifestyle Communities Report is an invaluable resource for anyone involved in the development and marketing of master-planned communities. It offers detailed insights into the purchasing behavior, lifestyle preferences, and financial readiness of today’s buyers, enabling industry professionals to better tailor their offerings and marketing strategies.

See the full results and download a free copy of the report here.

About Private Communities Registry, LLC (PCR)
Founded in 1996, PCR is the trusted online resource for real estate shoppers interested in amenity-rich, master-planned lifestyle communities. Each year, nearly 1 million visitors browse PCR’s website to search for gated, golf, active adult, and 55+ retirement communities, with the hope of finding their dream home based on amenities or location. Ultimately, PCR helps builders, developers, and real estate companies drive sales through valuable leads and quality website traffic. Learn more at mediakit.privatecommunities.com.

Ben Keal
Private Communities Registry, LLC
+1 800-875-3072
email us here
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