For the first time since 2007, the National Association of REALTORS® released its Home Feature Survey, that examines the features buyers prefer in the homes they purchase.
According to the survey, buyers are strongly influenced by geography and demography. Single women and first-time buyers tend to purchase smaller homes, while married and repeat buyers tend to purchase larger homes. Southerners were more likely to want a home less than five years old and in a wooded lot and placed a higher importance on central air conditioning.
Seventy-eight percent of buyers bought a property with a garage. Forty-one percent of homes purchased had a basement, a feature most popular among buyers in the Midwest and Northeast.
- “I’ll tell you what I really, really want…”
Not surprising, buyers placed a higher value on waterfront homes and newer properties. Talk to buyers in your area about their feature preferences. What do they want versus what they absolutely must have? Talk to a REALTOR® about this survey. How does it reflect their experiences with clients?