What Are Buyers Looking for in Homes Today?
Sellers are always curious about what features will make their home stand out to possible buyers. Based on a recent survey conducted by realtor.com, Millennials are more interested in a big backyard than air conditioning. Other findings included:
- Updated kitchens with new appliances are more important than updated bathrooms. Most people surveyed ranked updated kitchens in their top three features.
- Some results were skewed one way or the other dependent on the age of the buyer. For instance, Millennials, who are just starting families, prefer a larger yard, while the Silent Generation (72 years and older) prefer an updated kitchen.
- Boomers were more interested in the community around the property, while the Silent Generation wanted to be close to health facilities.
- Millennials also placed top schools high on their wish list.
- All groups ranked quality grocery stores near the top of their list.
Millennials had several definite “don’t care about” items on their list:
- They don’t want “fussy” landscapes. With family time at a premium, they are looking for easy to maintain outdoor space.
- This group of buyers enjoy cooking and eating in their kitchen and consider the formal dining room an unnecessary room.
- Millennials want wide-open spaces inside their home, no more mapped out floor plans. They are looking for multifunctional rooms.
- Millennials are moving away from carpeting in favor of bare floors with statement rugs. They consider this type of floor covering pet-friendly and childproof.
- Since Millennials are more attached to their digital world, a media room with a large TV and even surround sound is more appealing to them than “game rooms”.
Keeping these surveys in mind before you list may help move your property faster than your competition.
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.