NAHB's latest Study: 'What Home Buyers Really Want'
The recently released publication by the National Association of Home Builders publishing arm, BuilderBooks, is known as What Home Buyers Really Want. In a time when the economic and housing downturn left many agents perplexed as to how they would reinvigorate the market and spur buyer interest, this book provides many of the most simple answers. Although we currently are in a state of rampant recovery, it nonetheless is true that recent slow years (prior to 2012) showed there to be fewer new homes being built. In addition, there was a subsequent average decrease in their size of new construction with less than optimal characteristics and features now being used.
What this publication provides readers is an insight into what buyers truly could not give up in todays marketplace, and alternatively what features they are willing to leave behind due to their financial circumstances. Factors such as room layouts, room designs, home types and sizes, kitchen and bathroom finishes, windows and doors, accessibility to surrounding areas, outdoor amenities, energy efficiency, neighborhood reputation, electronics and technology within the home and more were all studied. The demographics of the study included individuals from all throughout the country varying in age, race, income, and Census division.
Rose Quint is one of the authors of this piece, as well as being the NAHBs Assistant Vice President for Survey Research. He reflected on this literary work noting that, This survey is a great resource for building professionals, as it provides an inside look at the things home buyers really want or dont want in their homes. With the housing market beginning to recover, and more consumers in the position to purchase a home, it is more important than ever for builders to be armed with this information.
So what is most important to buyers today? It becomes apparent that energy efficiency ranked as the number one item. Saving energy from the utilization of energy-star rated appliances and windows were critical in the surveyed respondents minds as well as the overall hope for the home as a whole officially being considered energy-star rated. These sorts of alterations to the appliances and fixtures of a home can save individuals at least 3% on energy costs.
Next, home buyers were keen on their home having ample storage for organizational purposes. Separate, sectioned-off laundry rooms were a plus, as were a walk-in pantry, linen closets in the bathrooms, and storage areas in the garage.
Now what is not as vital to have within the home that todays buyers can do without? An elevator (70% are content without one) Living within a gated neighborhood such as a golf course community A bath tub. Many buyers today are okay with standing shower stalls
Care to learn more about the aforementioned findings? The NAHB will be hosting a webinar on the 6th of March at 2:00PM EST to discuss these results and get deeper into the details of the other studied variables. Furthermore, the book What Home Buyers Really Want can be purchased only as an e-Book at ebooks.builderbooks.com for $149.99 or for $49.99 for NAHB Members.
More Information: NAHB
