March 19, 2013 — The nation’s builders think they know what you want as a home buyer, or at least they are trying to understand. A new study conducted by the National Association of Home Buyer’s Economics and Housing Policy Group found that buyer’s preferences are changing (Note: the study was conducted among people of all ages, not just retirement age).
What do home buyers really want?
— Energy efficiency. Buyers are interested in features like energy-star rated appliances and windows, and an energy-star rating for the whole home. Nine out of ten buyers would rather buy a home with energy-efficient features and permanently lower utility bills than pay a bit less for one without them.
— Organization and storage. A large majority of buyers want a laundry room, a linen closet in the bath, garage storage and a walk-in pantry.
These findings compliment and amplify the highly valued home features that emerged in our recent Topretirements.com poll:
– Energy efficiency
– One story living
–An elevator – 70 percent would be unlikely to buy a home with this feature.
–High density communities or golf courses.
–Only a shower stall (no tub) in the master bath.
Home Size Preference Decreases with Age
The NAHB’s other recent survey, “What Home Buyers Really Want,” found that the median desired home size is 2,226 square feet. Age plays an important role in a buyer’s preferences, however, with the amount of space requirements dropping steadily as the age of the buyer increases. Among those younger than 35, the desired home size is 2,494 square feet, compared to 2,065 square feet among those 65 and older. Makes sense to us!
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Comments: What are you looking for in your next home? Please share your thoughts in the Comments section below.
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