What homebuyers want

Homebuyers face a number of choices when contemplating the purchase of a home. In addition to the location of their prospective home, buyers must also consider factors such as the size of their home and how their housing needs may change over time. In addition, once the home purchase is completed, many buyers plan to make various home improvements, or in some cases, undertake extensive remodeling projects.

To better assess these decisions, the National Association of REALTORS® surveyed recent homebuyers about the features they considered most important when searching for a home and whether the home they purchased included these features.

Popular Characteristics Vary

The characteristics and features of homes vary as much as the people who buy them. Whether buyers prefer homes with 9- foot ceilings or an eat-in kitchen, they must determine which features and amenities are most important to them. They must also determine the size, location and type of home.

The features that buyers desire vary depending on where they live, their age and their ownership experience. Take, for example, the size of homes purchased. For younger buyers between 18 and 44 who are often first-time buyers, the median size of homes purchased is smaller than for buyers aged 45 to 64. For senior buyers — those purchasers 65 years old or older — the median-sized home is also smaller than those between 45 and 64 years old.

Older buyers tend to purchase single-story homes. First-time buyers (who are usually younger) are somewhat more likely to purchase a townhouse or condo compared to repeat buyers.

What Buyers Want

“The most desirable home feature is central air conditioning, which 73 percent of recent buyers listed as very important. Also considered very important features when searching for a home, were amenities such as a walk-in closet in the master bedroom (51 percent); and a bedroom on the main level (42 percent).

“More repeat buyers (50 percent) than first-time buyers (31 percent) consider a main level bedroom as very important. A patio or oversized garage was seen by 41 percent of buyers as a good feature.

“Homebuyers often make changes to their homes soon after purchase. Nearly half of recent buyers report that they repainted the interior of their home soon after moving in.

“Twenty percent of buyers indicated that they planned to repaint or wallpaper the interior of their new home, purchase new window treatments or upgrade landscaping within two years of their purchase.

“Kitchens and bathrooms were the two areas of the home that homebuyers most frequently plan to remodel.

“Fifteen percent of buyers reported that they remodeled their kitchen since moving into their home.

“Fifteen percent of buyers indicated that they have added or remodeled a bathroom, while 17 percent reported that they plan to upgrade or add a bathroom within two years of purchase.