NEW MILLER & SMITH SURVEY SHOWS HOMEBUYERS SEEK TO IMPROVE QUALITY OF LIFE WHILE REMAINING IN DMV AREA

NEW MILLER & SMITH SURVEY SHOWS HOMEBUYERS SEEK TO IMPROVE QUALITY OF LIFE WHILE REMAINING IN DMV AREA

Data Shows 1 in 5 Families Willing to Bare Longer Commutes, in Exchange for Location and Size

MCLEAN, VA (June 20, 2018) – Miller & Smith, the Washington region’s most awardwinning
home builder, released a study today that reveals the factors D.C. residents
consider when purchasing new homes. The study suggests that while families continue to
opt to live in the Metro D.C. area despite changing priorities and needs based on life
stages, they often choose to move further out into areas of Virginia/Maryland to
accommodate these needs.

“It’s so important as a homebuilder to stay on top of the ‘must have’ and ‘nice to have’
features that are most important to our customers.” Says Kim Ambrose, VP of marketing
for Miller & Smith. “We take this information very seriousaly since we are a design driven
builder that rarely builds the same home twice. We’re always changing and innovating
not only our floorplans but also the finishes and features. This study will help shape the
homes we’ll be offering in the future.”

Miller & Smith conducted the study over a twelve-week period during its “One Visit
Experience” road show in early 2018. More than 100 respondents from the Virginia/MD
area provided their opinions on everything from what they look for most when buying a
home to what they expect to gain from moving into a new home. While many respondents
expressed a desire for an open concept floorplan with upscale features like modern
kitchens not found in the regions older housing stock.

The full survey breakdown provides a detailed view of homebuyer perspectives:

Location and Size Are the Two Things Homebuyers Look for Most
● 40% of homebuyers say the location of the home they’re buying is the most
important factor.
● 20% of homebuyers say the size of the home they’re buying is the most
important factor

A New Home Creates Better Memories and Feelings
● 40% also say a new home will allow them to create better memories with their
families or will cause them to feel better in life – either they’ll feel more peaceful,
more settled, or more pride in themselves.

Open Concept, Modern Homes Remain All the Rage
● 34% of homebuyers said open concept homes are their favorite trend
● Almost one in five said modern kitchens – with islands or conservatory style – are
their favorite home trend

Life Stage Plays a Major Role in the Decision to Buy
● Almost 20% of homebuyers are looking to move to a new home because of their
age/stage of life.
● Birth of children have been a longtime driver of marriages and moving to a new
home. But now the aging baby boomers are a strong reason why 15% of
homebuyers today are downsizing.

Children Are the First Considered Factors
● 17% look at school systems first when considering a new home.
● 16% look at the layout and cleanliness of the neighborhood first when
considering a new home.

About Miller & Smith:

Founded in 1964, Miller & Smith has been one of the Washington area’s top privately
owned buildings and development firms for over 50 years. Active in both residential and
commercial real estate, the company has earned a reputation for creating innovative and
imaginative homes and communities. In 2017, Miller & Smith sold 113 single-family
home and 185 townhomes. Miller & Smith has built 6,100+ single-family homes, nearly
9,400 townhomes and 2,200+ condominiums, and has developed approximately 13,770
homesites in 130 communities throughout Maryland, Virginia and Delaware. The
company is headquartered in McLean, Virginia. For more information click here or follow Miller & Smith on FacebookTwitter and YouTube.