As the spring homebuying season kicks into full gear, the homebuilding industry is celebrating New Homes Month in April. If you’re in the market for a new home, you’re probably thinking about what features are essential on your must-have list. Do you wonder if other homebuyers are looking for the same things?
A recent survey from the National Association of Home Builders reveals what consumers are looking for in their house-hunting this year. Both first-time buyers and existing homeowners were asked about the features they consider essential in their next home.
Nearly half of first-time homebuyers rank these features among their top five must-haves:
• Living room
• Laundry room
• Dining room
• Garage storage
• Walk-in closet in master bedroom
First-time buyers are also looking for a front porch, a two-car garage and a double sink in the kitchen.
Are existing homeowners looking for dramatically different features as they move up or downsize?
In fact, their list of essential items includes many of the same preferences of first-time buyers. However, their wishlists also include many other upgrades and considerations that first-time homebuyers may not consider, including:
• Space for an eat-in kitchen table
• Hardwood floors on the main level
• Energy Star appliances
• Granite countertops in the kitchen
In 2018, we see both sets of homebuyers continuing their commitment to energy efficiency. Energy-efficient features like low-E windows and Energy Star-certified appliances are among popular desired features.
Homebuyers are also indicating their openness to joining the tiny home trend.
NAHB found that 53 percent of survey respondents would consider purchasing a home of 600 square feet or less at some point during their lifetime.
Perhaps not surprisingly, Gen Xers and millennials were much more open to the idea of a tiny house than baby boomers and seniors.
Christina Thrun is the executive officer of the Chippewa Valley Home Builders Association. Visit cvhomebuilders.com to call 715-835-2526 to learn more.
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