What Do Buyers Want?

By
Real Estate Broker/Owner with California Lifestyle Realty

If only we knew?  But here's a start ... Over-sized Garages?

Home buyers in increasing numbers want garages with two or more spaces in their homes, according to the 2007 NAR Profile of Buyers Home Feature Preferences.

Since the last survey in 2004, oversize garages saw the biggest growth in terms of what recent buyers considered very important in a home, gaining 16 percent points to 57%.  Among buyers who purchased homes without this feature, 56% of them said they would have paid more for an oversize garage, compared to only 6% in 2004.

Other priorities for today's home buyers include air conditioning, with three out of every four respondents ranking this as "very important," and a walk-in closet in the master bedroom, which was very important to 53% of respondents.  Hardwood floors and granite counter-tops each gained 7 percentage points from the 2004 survey, with 28% and 23%, respectively, of buyers viewing these features as "very important."  Gaining 6 percentage points was cable/satellite TV-ready at 46%.

The survey reports responses from buyers who purchased homes in 2006.  Home buyers were asked about 75 features and room types to assess the importance of each.

According to the survey, nearly six out of 10 recent home buyers took on remodeling or home improvement projects within three months of their purchase.  Close to half of home buyers who remodeled or made improvements updated their kitchen, and nearly half remodeled or improved their bathroom.  New homeowners spend a median of $4,350 on home improvement or remodeling projects undertaken within three months of purchase.

So what is it the Buyers want?  Besides the obvious answer of a "great deal" they want comfortable amenities to make their home lives a little more comfortable.

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Rainer
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Tyghre Collentine
Coldwell Banker Burnet - Minneapolis, MN

If you find the answer, let me know!  I work with so many buyers and each one is so different, some want fixer-upers, while others have champaign tastes on beer dollar budgets!!!

 

Best wishes! 

Nov 16, 2007 05:20 PM #1
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Rainer
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Lorraine Milosevich

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