Depending on how old you are – don’t worry, you don’t have to tell us – you might think nothing of asking someone how much they paid for their home.
Shocked that someone would even ask? We’d guess you’re not a Millennial.
According to a new survey, 70 percent of respondents think it is OK to ask someone how much they paid for their house. If you’re a Millennial, that number jumps to 81 percent. If you’re 65 or older, it drops to 49 percent.
And age isn’t the only factor that determines how you feel about this question. The percentage who are OK with the question changes by region:
- Western states: 77 percent
- Northeastern states: 68 percent
- Southern states: 66 percent
- Midwestern states: 55 percent
Why the disparity? Realtor.com theorizes that it has to do with the volatility of the local market. In stable markets, like the Midwest, home buyers already know what to expect when it comes to home prices. In volatile markets like the coasts, asking what a recent homebuyer paid is part of the research process.
Would you feel comfortable asking – or answering – this question? No matter which side you fall on, Realtor.com shares tips for how to handle it if you want to ask it delicately or answer without specifics.
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