There are plenty of potential home buyers out there who have a pretty good idea of what they’re looking for in a new home. Some items on this list of “most wanted” features are unexpected and some are not.
Whether you are a seller or an investor, at least 85 percent of the buyers you are targeting will be looking for these features.
Out of a total of 120 factors, 85 percent (or more) of the home buyers surveyed, said these following features were the ones they considered essential. The statistics cited here are taken from an extensive nationwide survey conducted by the National Association of Home Builders.
- Energy-Star rated appliances
- Laundry Room
- Energy-Star rating for whole home
- Exhaust fan in bathroom
- Exterior Lighting
- Bathroom linen closet
- Energy-Star rated windows
- Ceiling fan
- Garage storage
- Table space for eating in kitchen
- Walk-in kitchen pantry
Looking at this list, two themes emerge which are of particular interest to buyers and sellers. The first, energy efficiency, indicates that buyers are looking for property that will reduce monthly energy expenses. Energy-star rated appliances and windows are seen as important ways to achieve this. When offered the choice, 9 out of 10 buyers would choose a highly energy efficient home with lower utility bills than a cheaper alternative that’s not energy efficient.
A home’s projected utility costs are of clear concern to buyers. This shows environment- friendly features that reduce utility bills would be valuable. Over 70 percent of the survey respondents said “the estimated utility costs of a home would be an important factor when making a purchase.”
The second theme revealed is that today’s buyers want and are willing to pay for organization and storage options. A designated laundry room and garage storage is wanted by the majority (85 percent) of homebuyers. The laundry room is the most crucial of all specialty rooms; over 50 percent of all buyers would not purchase a home without it. Kitchen essentials are a walk-in pantry, table space for eating, and a double sink.
Know what buyers are looking for and use the knowledge to guide your decisions when rehabbing or preparing your property for sale.