Buyer Behavior—Emotional Factors Drive Purchase Decisions

first_img Bank of America First-Time Homebuyer Home Investment Property 2016-04-06 Scott_Morgan in Daily Dose, Data, Featured, News, Origination Bank of America’s first-ever look at homebuying trends has found that more buyers want a home more than they want an investment in property.According to BOA’s inaugural Homebuyer Insights Report (HIR), released Wednesday, three quarters of first-time homebuyers want to skip buying a starter home in favor of a long-term, single-family homes. That same 75 percent was also motivated by “emotional factors,” meaning more first-time buyers are seeing the purchase of property as homes, not investments and portfolio pieces.However, about two-thirds of first-time buyers said they are also motivated by the financial advantages of owning a home, and 59 percent said they are aware enough of the importance of a downpayment that they are saving specifically for one. Nine of 10  homebuyers consider saving for or paying off a home as important as saving for retirement, the report found.Millennials, however, did say they still expect some help getting that first home. According to the HIR, 66 percent of first-time millennial buyers said they expect some type of help, financial or otherwise, from their parents when buying.Also when it comes to money, good mortgage rates top the list of reasons first-time buyers want to work with a mortgage provider. However, the same percentage of buyers (59) said that trustworthiness was just as important, trumping the wish to work with providers who have buyers’ best interest at heart.Perhaps more surprising is the growing interest in settling into the suburbs. Despite migration trends toward cities and urban-style downtowns, particularly among millennials, over the past few years, the HIR shows that nearly 60 percent of first-time buyers want out of the cities and into the suburbs. And for those buyers, the biggest motivators are cost (82 percent) and the wish to live in a good neighborhood (71 percent).According to the HIR, three-quarters of first-time buyers said they want a single-family home, while 11 percent said they would like to purchase a townhome. A mere 6 percent are interested in condos.“Every day, we talk to clients who are motivated to purchase a home for many reasons, including the pride of ownership and desire to establish roots in a community,” said D. Steve Boland, a consumer lending executive for Bank of America. “Today’s aspiring homebuyers want to be selective and believe they should wait until they can afford to buy a home they’ll live in for years to come. They’re also realistic about the need to save for a down payment.” April 6, 2016 671 Views center_img Buyer Behavior—Emotional Factors Drive Purchase Decisions Sharelast_img read more

LOS ANGELES Reported by Elite Traveler this priv

first_imgLOS ANGELES- Reported by Elite Traveler, this private jet lifestyle magazineThe Salviatino Collection is pleased to announce its newest property, Palazzo Victoria. The five-star hotel is located within the Roman walls of Verona and is the sister property to Il Salviatino, a luxurious restored 15th century villa in Florence.Palazzo Victoria opened its doors on March 22, 2012 in Verona’s historic quarter, introducing a new type of luxury to the celebrated destination. The hotel is located centrally on Corso Porta Borsari with 71 accommodations ranging from Deluxe rooms to iconic Victoria Suites.Built on carefully preserved Medieval and Roman ruins featured throughout the public areas and rooms, Palazzo Victoria effortlessly blends rich heritage, seamless service, sophisticated technology and bespoke amenities.Rooms and suites are generously proportioned with dramatic high ceilings, charming wrap around iron balconies, in-room antiquities, and original Veronese décor. From traditional shutters, original frescoes, textile wallpapers, mahogany furniture and hand made linens, Palazzo Victoria represents the very best of Italian culture and luxury living.The hotel features an internal garden complete with columns and courtyard furniture, affording plenty of natural light and an al-fresco ambience. A conference room accommodates 70 people theatre-style and doubles as a museum of ancient ruins, while a vibrant Lobby Louge offers a Bar and Café, Wine Bar, Champagnerie and relaxation area. This is the perfect spot to people watch or unwind with a glass of wine after a busy day on the town.In a region rich with local cuisine, Palazzo Victoria’s dining concept is simple and encourages guests to explore the city’s gastronomy. Overseen by The Salviatino Collection’s Executive Chef Carmine Caló, the hotel will offer brasserie style dining throughout the day including a menu of traditional homemade Italian cuisine with fresh and seasonal produce. Al fresco dining is available in the hotel’s beautiful courtyard which is also accessible direct from the main shopping street. This oasis is great for those wishing to soak up the vibrant atmosphere and Mediterranean aromas.Verona served as the setting for Shakespearean tales, and it is easy to see why. The charming city centre is steeped in history, haute couture and is a hub for traditional and fusion cuisine. Nestled in Northern Italy, Verona is the ideal ’48 hour’ destination and a perfect pilgrimage for romantics and culture creatures alike. Alternatively, the city – which is a little over an hour from both Milan and Venice – makes a fantastic base for exploring the neighbouring regions, including wine-tasting in Valpolicella, sailing on Lake Garda, or skiing in the Dolomites. In the city where Romeo met Juliet, anything can happen.www.salviatinocollection.comlast_img read more