What Knoxville Home Buyers Love in Their First Home

Are you planning to shop for your first home in the Knoxville area in the near future? How about down the road? When it comes to amenities, location, neighborhoods, and more, there are some unique factors that Knoxville home buyers in particular love to see. Use this post to help you get a better idea of your dream home, especially if it’s in Knoxville. This will also help you and your realtor in your search.

Who are the buyers?

More than a third of Knoxville home buyers and buyers in other areas of the country are millennials. While this doesn’t necessarily change all of the traditional facets buyers are looking for in a home, it does pull some weight. Millennials have some different buying habits and preferences compared to other generations, according to this article. For example, millennials prefer an average of two bathrooms, which is higher than older generations. We’ll get into other specific preferences below. 

Price range and buying style

The majority of Knoxville home buyers, particularly millennials, are searching for a home within the $200K to $300K range. The goal for many is to keep mortgage payments lower than rent costs. A change that some realtors in our area are noticing, according to Knox News, is that buyers are much more inclined to act quickly on purchases than they were a few years ago. Younger or first-time homebuyers are also more likely to go for an older build than a newer one. This is because many are wary of sometimes long construction times. Plus, older homes are often on larger lots and many millennials prefer slightly larger lot sizes.

Neighborhood preferences

Many homebuyers in our area, though starting their families, still prefer easy access to downtown and its various amenities. Though downtown offers plenty of nightlife — bars, breweries, sophisticated eateries — it also offers plenty of family-friendly activities, too. This includes the farmer’s market and other events that typically run throughout the year. 

In addition to having access to downtown, many homebuyers in Knoxville, especially millennials, prefer a shorter commute to work. They also put other things high on their list, like being a good school district or near high-rated options for their children. Crime rates are also at the top of all buyers’ minds, though, this hasn’t changed for quite some time.

Be sure to check out our post, Best Knoxville Neighborhoods for Buying Your First Home >>

Exterior assets

When it comes to exterior assets, millennials not only prefer slightly older homes and larger lots, they also look for certain styles more than others. Millennials are more likely to prefer modern or remodeled homes versus other build styles, such as ranch. Millennials also want more bedrooms — as well as bathrooms — than older generations. Current homebuyers are also more likely to want patios, garage space, and exterior lighting.

Interior assets

Interior assets that many homebuyers are currently looking for include things like laundry rooms, energy-efficient windows and appliances, ceiling fans, and eat-in kitchens. Millennials in particular aren’t as interested in formal dining rooms, for example, as older generations.

Looking for more advice about home buying or home selling? How about what you should know about mortgages as a first-time homebuyer? Check out the rest of our blog or contact us today — we can’t wait to work with you!

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