Front porch? Big yard? Open floor plan? What are the main features you want in a new home? According to Realtor.com, 42% of buyers want a Ranch-style home and 28% want a contemporary home. Most buyers want at least 3 bedrooms and 2 bathrooms. The kitchen is one of the three most important rooms in the house to 80% of the people surveyed (the majority of them also listed updated kitchen as very important). The other two were the master bedroom at 49% and living room at 42%. Buyers over 55 years old preferred garages over living rooms when ranking importance of rooms.
Forty percent of Millenials prefer Townhomes but also state that major life events such as getting married or having children are the main reasons they look for new housing. As they get older and start having families, single family homes are most desirable. Once families with young children start looking for homes, their biggest want and need is a large yard for the kids and pets to play in. Buyers over age 45 typically look at downsizing as their motive to sell their home and buy a new one, many times back to a townhome or condo.
Do you agree with this survey? I am not surprised and it seems pretty standard and not much different than in past years.
If you would like to check out the full survey, click on the link below.