Top 6 Home Buyer Facts - What's on Their Wish List?
Note: I found this article on Realtor Mag and thought it was interesting to copy/paste here (with some minor edits).
What’s on Home Shoppers’ Wish Lists
A new Realtor.com® survey revealed the top desires of home buyers today, according to Realtor Mag, the official magazine of the National Association of Realtors.
"The insights from our most recent consumer survey provide a glimpse into what buyers are looking at today," says Sarah Staley, housing expert for Realtor.com®. "While we often think of dream homes as being big and bold, that's not what we're hearing from potential buyers today. These insights can help guide potential sellers in deciding which rooms or features to invest in before listing their homes."
According to the survey:
1. The most-searched attributes on realtor.com®:
- large backyards
- garages, and
- updated kitchens
2. The least-searched features among buyers:
- a guesthouse
- mother-in-law suite
- solar panels, and
- “man cave”
3. The most desired home style: Ranch homes
Forty-two percent of home shoppers say they’re looking for a ranch home, the clear leader. The second most common home style was a contemporary home at 28 percent, followed by Craftsman and Colonial styles.
4. The favorite room in the home: Kitchens
Eighty percent of home buyers ranked the kitchen as one of their three favorite rooms in a home, followed by master bedroom (49 percent) and living room (42 percent). (However, shoppers over 55 years old preferred garages over living rooms.)
5. The top goal when searching for a home: Privacy
The majority of home buyers said privacy and having a space that was solely their own was a top goal when in house-hunting mode. Buyers between the ages of 45 and 64 years old tended to value privacy the most, with privacy in the home topping other preferences like stability, family needs, and financial investment among this age group.
6. What motivates millennial home buyers the most: Family needs
Most millennials surveyed, as well as Home purchasers age 35 to 44 cited life events like an increase in family size, getting married, or moving in with a partner, as what primarily motivated them to find a new home. Home buyers over the age of 45, on the other hand, cited a chief motive to move as they were looking to downsize as they plan ahead for retirement.
Contact a Buyer Specialist on 843-900-0155 to book a free, no obligation Buyer Consultation.
Source: Realtor Magazine