Three-quarters of today’s home-buyers who own pets said they would pass up their dream home if the property did not meet their pet’s needs. These numbers make up a portion of the results from a recent survey conducted in July by Harris Research. They interviewed more than 1,000 homeowners who closed on their current home during 2018.
Pets in the Home
The same study revealed that nearly two-thirds of all pet owners own dogs and about 40% own cats. The remainder own birds and fish. Younger buyers were more likely to be pet owners, with 9 out of 10 buyers under 35 reporting owning pets. However, plenty of older buyers have furry friends as well, with 63% of the 55-and-up population saying they have a pet.
Not everyone was willing to pass up their dream home for their fuzzy familiar. Eighty-seven percent of pet owners said they did factor in their pets’ needs when looking for a home. Seven percent said they did not consider their pets at all when purchasing their current residence. Surprisingly, the population of non-dog and non-cat pet owners was as dedicated to their pets as canine and feline aficionados. Nine in ten of bird, horse, and rodent owners said their pets needs were “very important” in their housing search. Ninety-eight percent of reptile owners said the same.
Keep the Pets in Mind
While not every residence needs to be pet-friendly in order to be an attractive home, it should be taken into consideration. Real estate investors can factor in their target demographics when they are upgrading homes and providing amenities for their properties. In some cases, investors might even find that a dog park, for example, could add more value to a property than a playground! Consider the age of your target market and other local offerings to determine the best route for your investments.