What to do about too many home choices?
Meritage Homes shares research on shopping habits of stressed-out home buyers.
Meritage Homes, the seventh-largest public homebuilder in the U.S., has shared some of its research that covers “design fatigue.” That’s the process were buyers face too many decisions and too many products in a stress-inducing home design process.
According to the new Wakefield study commissioned by Meritage Homes, buyers of new home construction across new home builders found a few key barriers to the process which centered around three main concerns: the time needed to design the interior of their new home, making cohesive style choices and sticking to their budget.
- Buyers’ Time is Valuable. Many buyers of new home construction found themselves making several trips to the design center due to their inability to make a decision. One in four buyers found the new home construction design process stressful. Also, nearly 40 percent of buyers spent more than 20 hours in the design center throughout the course of the building process.
- Making the Right Choices. Once decision choices were made, buyers still experienced stress by worrying if they made the wrong decisions and often experienced buyer’s remorse. Thirty-seven percent of buyers said their homes didn’t turn out the way they wanted — 26 percent of buyers found that their design selections did not come together as expected in the end.
- Staying on Budget. While design aesthetic is a top concern for buyers, so is their budget. Most buyers come in with a budget they want to stick to during the new home construction process.
Forty-five percent of buyers noted they exceeded their budget in upgrades by over $21,000 on average. An overage of this amount often leads to frustration and dissatisfaction.
For Meritage, the research helped shape its new Design Collections, a new approach to the design process that offers curated options for move-up buyers.
Steve Hilton, CEO, Meritage Homes, said: “We’ve coupled the new Design Collections offering with our transparent pricing to ensure buyers understand costs clearly while saving them time by reducing the number of design center trips needed to complete their dream home.”
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