#HomeFeatures13 Twitter Chat Recap

Yesterday, NAR Research held a Twitter chat on home feature preferences for recent buyers.  The information for this chat was taken from our recent 2013 Home Features Survey and echoes many of the experiences real estate professionals are having in their own markets.  There were too many responses to include them all, but the recap of the major highlights is below.  Thank you to all who participated!

(2:00pm EST) @NAR_Research Welcome to the #HomeFeatures13 discussion on buyers' feature preferences. I'm Jessica Lautz, Manager of Member/Consumer Survey Research.

(2:00pm EST) @NAR_Research This survey aims to dig deeper into what features and rooms are important to the recent home buyer. #HomeFeatures13

(2:01pm EST) @NAR_Research The survey captures buyers who purchased a home between 2010 and 2012. #HomeFeatures13

(2:02 pm EST) @NAR_Research The typical home recently purchased was 1,860 square feet in size and built in 1996. #HomeFeatures13

• @startfreshhome New are 30% more energy efficient than 10yo homes MT @NAR_Research: Avg home recently purchased-1,860 sq ft, built in '96 #HomeFeatures13
• @nobuhata Sounds right for my old market. Yours? RT @NAR_Research: Typical home recently purchased was 1,860sf, built in 96. #HomeFeatures13

(2:03 pm EST) @NAR_Research The typical buyer bought a home with three bedrooms and two full bathrooms. #HomeFeatures13

(2:04 pm EST) @NAR_Research Sixty-five percent of all buyers considered central air conditioning very important. #HomeFeatures13

(2:05 pm EST) @PROupdates Follow #HomeFeatures13 for some interesting insights on home buying! - KS

(2:06 pm EST) @NAR_Research The next most important home feature was a walk-in closet in the master bedroom, very important to 39% of recent buyers. #HomeFeatures13

(2:07 pm EST) @NAR_Research Buyers 55 & older placed a much higher importance on having a single-level home; slightly higher importance on a water view. #HomeFeatures13

(2:09 pm EST) @NAR_Research Single females also placed a higher importance on a single-level home. #HomeFeatures13

(2:12 pm EST) @NAR_Research Single males and married couples placed higher importance on having new kitchen appliances. #HomeFeatures13

(2:13 pm EST) @NAR_Research The two most common features buyers would be willing to spend more on were air conditioning and new kitchen appliances #HomeFeatures13

• @MyAPRE A/C sounds right for our CA, FL, and TX markets

(2:15 pm EST) @NAR_Research 69% of buyers who did not purchase a home with air conditioning would be willing to pay more for a home with this feature #HomeFeatures13

(2:17 pm EST) @NAR_Research The features with the highest $ value buyers would pay more for were waterfront property and a home that was < 5 years old. #HomeFeatures13

(2:19 pm EST) @NAR_Research Repeat buyers placed a higher priority on a bedroom on the main level, as did buyers who purchased a new home. #HomeFeatures13

(2:20 pm EST) @NAR_Research The least common room purchased, even though it was at least somewhat important to the buyer, was an in-law suite #HomeFeatures13

(2:22 pm EST) @NAR_Research The 2 most common rooms buyers were willing to spend more on were a laundry room & a den/study/home office/library #HomeFeatures13

(2:25 pm EST) @NAR_Research 63% of buyers who did not purchase a home with a laundry room would be willing to pay more for a home with this room. #HomeFeatures13

(2:30 pm EST) @NAR_Research The typical buyer would be willing to pay $1,590 more for a home with a laundry room. #HomeFeatures13

• @LandryDana “@NAR_Research: The typical buyer would be willing to pay $1,590 more for a home with a laundry room. #HomeFeatures13” would you?
• @GoFiveStarPM Big draw for renters too! RT @NAR_Research: The typical buyer would be willing to pay $1,590 for a home with a laundry room. #HomeFeatures13

(2:31 pm EST) @NAR_Research 97% of home buyers were satisfied with their recent home purchase. #HomeFeatures13

(2:33 pm EST) @NAR_Research However, the majority of buyers did want more or larger closets and more storage. #HomeFeatures13

(2:35 pm EST) @NAR_Research 53% of buyers did undertake a home improvement project within three months of their home purchase. #HomeFeatures13

(2:37 pm EST) @NAR_Research The buyer typically spent $4,550 on home improvement projects within the first three months of moving into a home. #HomeFeatures13

• @startfreshhome Another reason why new is better! MT @NAR_Research: The buyer typically spent $4,550 on home improvement proj. w/in 3 mo. #HomeFeatures13

(2:39 pm EST) @NAR_Research Remodeling the kitchen was the most common home improvement project among recent buyers at 47% #HomeFeatures13

(2:41 pm EST) @NAR_Research Bathrooms were a close second at 44%. #HomeFeatures13

(2:43 pm EST) @NAR_Research Home buyers are asked about importance of green features to their home purchase in annual Profile of Home Buyers/Sellers #HomeFeatures13

(2:44 pm EST) @NAR_Research Not surprisingly, features that directly affected home buyers’ monthly energy costs were most important to buyers #HomeFeatures13

• @annrealtor #homefeatures13 Energy-efficiency: don't lose the energy you have, before spending a fortune on a solar system. Caulk and seal first!

(2:46 pm EST) @NAR_Research Buyers found heating and cooling costs the most important, with 39% percent of home buyers reporting this was very important #HomeFeatures13

(2:48 pm EST) @NAR_Research 24% of buyers said energy efficient appliances and lighting were very important #HomeFeatures13

• @Derrickinthekey What do you think? "@NAR_Research: 24% of buyers said energy efficient appliances and lighting were very important #HomeFeatures13"

(2:50 pm EST) @NAR_Research Buyers who purchased homes that were built in more recent years placed more importance on all environmental features #HomeFeatures13

(2:52 pm EST) @NAR_Research Thank you for joining in on #HomeFeatures13! For more information on the 2013 Home Features Survey check out: http://www.realtor.org/reports/home-feature-preferences

• @MassengillBuild Enjoyed reading your tweets @NAR_Research! TY! #HomeFeatures13