I know when I was shopping to buy a home, I wanted a backyard with privacy. I had lived in the boroughs of New York City, where the neighbors (and their arguments) were an arms length away. So privacy was a must-have for me. On the inside, my wife wanted a nice size (not huge) updated kitchen with an island. I suppose these remain popular buyer wish list items. But what are some others?
According to my research, here is a list of Home Buyer Wish List items:
- Garages with plenty of storage, with heat and air-conditioning, if possible
- High-tech his and her home offices
- Heated outdoor surfaces such as walkways and drives (for us Northeners)
- 2nd Laundry room in the master bedroom or somewhere upstairs (I’d take a chute to downstairs)
- Fireplaces
- Outdoor deck or patio with a firepit and outdoor grille/kitchen or cozy outdoor enclaves (must pass the smooch test)
- Home entertainment center
Here’s what’s on the Out List:
- “As is” older fixers (buyers prefer newer homes and pass on “as is” listings)
- Non-monetary incentives like free cars (buyer’s prefer “show me the money” rebates)
- High ceilings & great rooms (energy costs don’t justify them)
- Granite and stainless (hmm.. really?)
- Living rooms (what are those?)
As a buyer, what features are on your Must-Have Wish List? What is definitely out?
As a real estate professional, what home features really help a home sell in your market, besides a nice price tag? What are the hard sells?
Sources and Further Reading:
What Home Buyers Want (And Don’t Want) in 2008 (Mark Nash)
50 Must-Have Features for Today’s Buyers (Professional Builder, Felicia Oliver): from 2006 but a very good piece
1001 Real Estate Tips (M. Nash)
These 5 Home Features are so Last Year (Sellsius)
Technorati Tags: home buyers, real estate marketing, house features that sell
The www.costvsvalue.com data is reflective of what is important to people. The data reflects the percentage of remodeling costs recouped at completion for different projects. Only 57% of a home office remodel is recouped at completion, so offices appear to be less important as other projects. Basements, kitchens and window remodels all do well. What shocked me was that 85% of the cost of a wood deck is recouped at completion, yielding a better return than all other projects. Who would have though decks were so important to folks?
My 2008 forecast is that people will begin to demand nifty gadgets that don’t cost a ton of money. For my part, I would like control of the kitchen faucet via a foot pedal, so that I don’t have to touch the faucet with my grimy hands. I think we’ll see more of these type of neat-o upgrades in the future.
Everyone here wants granite. Sometime’s I can’t help but wonder what the gen y’s are going to think about all that granite. Will it be like the olive green and gold when I was looking? Outdated?
Refinance Denver:
OK, lets add decks/patios and gadgets to the list
Missy: I still like granite. But what is replacing it?
I have noticed a lot of people that dont like strict HOA’s. I have had a number of people that want to live in a newer home but dont want to deal with a HOA telling them what kind of plants they can have. I don’t know how much of this is a national vs just an Austin trend.
Granite is already staring to be replaced here by composites. Green is the big thing here in Vancouver. Geo-thermal heat, bamboo floors, any sort of energy-saving fixture or appliance. Oh, and appliances from European companies I’ve never heard off (so they must be good, right?).
Ive seen Asko Miele.
Green and low maintenance seem to be the way of the future.
Thanks for stopping by Matt.
How about Eggersman of Germany cabinetry and Dornbracht faucets. These are two from a Vancouver developments promo materials that I have by my desk.
Also low-VOC paints, carpets, etc.