What Are the Most Important Features to Home Buyers?
These are results based on a survey of 2,500 home buyers in the U.S. conducted by the National Association of Realtors in 2007. The purpose was to determine popular home feature preferences. It gives you a bit of insight into what features people think are important in a home and the changing trends. This is handy info to know whether you're planning to buy, sell, or build.
1. Most Requested Feature in a Home
Central Air Conditioning was selected by 83% of buyers. 57% wanted a garage for two or more cars; 53% requested a walk-in closet in the master bedroom, and 50% wanted a backyard or play area.
2. The Median Size of Homes Between Late 2005 and 2007
1,840 square feet. Homes have increased by 100 square feet since 2004.
3. Important Features for Repeat Buyers
This group placed more emphasis on oversized garages and master bedroom walk-in closets. Having already owned a home, these people know what they want. 65% of repeat buyers wanted a large garage, compared to 41% of first time buyers.
4. Areas of the Home Altered Within the First Three Months
Almost 50% of buyers remodeled the kitchen within the first three months of buying. Other common improvements included bathrooms, bedrooms and adding new appliances and lighting.
5. Three Features That Buyers Would Pay Extra For
- Central air conditioning
- Walk-in closets
- Hardwood floors
6. Most Important Feature to New-Home Buyers
A home's energy efficiency was stated by 65% surveyed that it was a very important aspect of their home purchase.
7. Where Do First-Time Home Buyers Tend to Purchase?
In a suburb or subdivision. Only 20% bought in an urban area, and only 10% in a rural area.
8. The Most Common Type of Home Purchased
47% surveyed selected a single level style. It was close, with 44% opting for a two-level home. Generally, the older the age of the buyer, the more likely they were to purchase a one-story plan.
9. Main Feature on a New-Home Buyer Wishlist
Storage was the big area new-home buyers wished they had more of. 40% desired more closets and 60% wanted a larger kitchen.
Posted by Tim Shepard - Broker on
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