What do Buyer's Want?

According to the National Association of Home Builders along with many architects, contractors, and engineers that the Association questioned, believed Buyers are looking for more quality and less space. What does that mean for 2 Stories, Living Rooms, Kitchens, and Master Suites? The NAHB has some interesting trends to report.

Buyers appear to be searching for higher quality interiors rather than seeking larger living quarters. Following these trends, experts expect the average size home to drop about 250 square feet by the year 2015.

Interestingly, this panel also believes larger kitchens, larger family rooms, more master suite options, and the addition of offices, libraries, or music rooms will now be included in many Buyers' requests. One may wonder, how we can increase these areas of the home and still have less square footage than the previous average homes? My only guess lies in the demise of the Living Room. Last year, 40 percent of newly constructed homes didn’t have a living room.

While there may be less living space, large volume is still present. The average home of the future is expected to have 9-10 foot ceilings while upscale homes will have at least 10, and often, 12 foot ceilings.

2 story homes are still the design of choice since the per square foot cost is less expensive on the second level. As building costs rise, so does the desirability for a 2 story home.

Many homes builders and contractors are now seeing requests for 2 master suites as an option. Possibly one bedroom suite on one floor and the second suite on another. Dual master suites account for the realities of family coming to stay, the unconventional living arrangements, and the mere fact that the population is aging and doesn't wish to climb the stairs.

Of course, these are only new home and remodel trends. Each home buyer will desire various features, styles, and designs. Just as various features will be desired, various homes will easily be found.

Come on out to Hide-A-Way Hills to see first hand the Diversity in Housing Age, Size and Style

Ready for a Visit? Let's Start with a FREE TOUR!

2 Comments

hammer head said...

Is there any information as to what buyers are looking for in a second or vacation home?

Belinda Augustus-Real Living HER 740-689-8305 said...

The latest information can be found in a 2006 National Association of Realtors Report on the Second Home Buyer.

Trends worth noting nationwide~

1-Typical vacation home buyer is 59 years of age.

2- 3/4 of second home buyers are married.

3-Over 1/2 vacation home buyers stated water features were a factor.

4-Typical vacation homes are 220 miles from their primary residence which is bound to be in the suburbs.

The report has other findings specific to agents including answering the burning question, "What is the number one service a second home buyer might want from an agent?"

According to NAR's survey, the number one service a second home client will want from an agent is comparable sales.

For information on Hide-A-Way Hills comparable sales see HAHSolds.Com.

To read NAR's entire report, see:
http://www.realtor.org/Research.nsf/files/2ndHOHilites06WebFile.pdf/$FILE/2ndHOHilites06WebFile.pdf

Thanks for the question.