Top 10 Features New Home Buyers Want
Thursday, May 3, 2018
The Zillow Group Consumer Housing Trends Report 2017 recently asked more than 13,000 households about all things home – including what features they want in their homes and neighborhoods. The results prove why it’s so important to showcase everything your home(s) and floor plans have to offer.
Here are the top 10 features that new homebuyers really want.
1. For 71% of new construction buyers, a home must have the preferred number of bedrooms.
This trend is simple to explain. Generation X buyers (aged 38-52) often purchase suburban homes and are more likely to have children under the age of 18: 62% of them, compared to 53% of Millennials (aged 18-37) and 16% of Baby Boomers (aged 53-72). This generation looks ahead to growing their family and puts a higher priority on the ability to accommodate it: 70% versus 62% of total buyers.
2. Air conditioning is a top-ranking requirement, too (71%). Fortunately, air conditioning is a standard amenity in most U.S. homes,but for markets where it isn’t as common, such as in the West – which is experiencing a rising number of plus-65-degree days – air conditioning is increasingly sought.
3. A large number of buyers (65%) require the floor plan or layout they want.
4. Nearly 2 out of 3 buyers (66%) require a home within their initial price range.
About a third of buyers (29%) find it difficult to save for a down payment and have to get creative: 20% get a gift or loan from family and friends, and nearly one-quarter (24%) combine two or more sources to scrape together a down payment.
5. Close to the same number of new construction buyers (65%) insist on their preferred number of bathrooms.
Again, with an eye on a growing household, buyers consider that extra bathroom (or two) no longer a luxury, but a necessity – especially when their children grow into teenagers.
|Source: Zillow Group Consumer Housing Trends Report 2017.|
6. More than half (57%) require their specific size or square footage. For likely the same reasons as requiring more bathrooms — the ability to comfortably grow their families — Generation X buyers have more demands about the size of their home than the average buyer (47%).
7. The same number of new construction buyers (57%) demand their favorite kitchen style.
8. Nearly the same number (56%) want private outdoor space, such as a patio or deck.
9. Only slightly fewer (54%) want their preferred finishes, such as flooring and cabinetry.
10. Exactly half want an energy-efficient home.
U.S. Energy Information Administration, Residential Energy Consumption Survey, 2015.