What Do Homebuyers Want? NAR and HGTV Weigh In

“When searching for a home, the most desired features were central air
conditioning, an oversized garage, a walk-in closet, and a backyard or play area.
The most desired rooms/spaces were garages, living rooms and laundry rooms.”
—National Association of Realtors’ (NAR) 2007 Profile of Buyers’ Home Feature Preferences Highlight

When participating in any business transaction, our first thought often is “What do I want or need to get out of this?” Fair enough. But once we have answered that question for ourselves, we quickly need to ask another question if we want the transaction to be successful. And our second question should be “What does the buyer want or need out of this transaction?”

Other than a great price, what features do homebuyers want? The “2007 Profile of Buyers’ Home Feature Preferences” by the National Association of Realtors might give some insight into this. This NAR survey of buyers who bought a home in 2006 shows the following features were “very important” to these homebuyers in making their home buying choices.

Air conditioning—75%
Oversized Garage—57%, up 7% from the last survey in 2004
Walk-in closet in the master bedroom—53%
Cable/satellite TV-ready—46%, up 6% from the last survey in 2004
Hardwood floor—28%, up 7% since the last survey in 2004
Granite countertops—28%, up 7% since the last survey in 2004

Other information in the report states that energy efficiency was very important to 65% of these buyers who bought new homes and to 39% of these buyers who bought existing home. Also, as would be expected, preferences varied by age: Older buyers were more likely to want a single-level, new home (less than 10 years old) with a walk-in closet in the master bedroom. Younger buyers were more likely to want a backyard or play area.

HGTV lists the following as important: a nice entryway, hardwood floors, great fixtures, beautiful baths, slab countertops, stainless-steel appliances, pre-organized closets, abundant light, built-in furniture or the look of built-in furniture, green and open yards, and attractive staging (For a more in depth explanation of each of these, see “10 Things That Make Buyers Bite“).

Photo Courtesy HGTV